The Japanese Yen (JPY) experienced a decline against the US Dollar (USD) on Monday, with the USD/JPY pair showing a 0.13% increase fueled by rising US Treasury bond yields. Currently trading at 144.59 after bouncing back from daily lows of 143.44, the pair’s technical outlook indicates a possible short-term rally.
Key Technical Insights
The USD/JPY exchange rate remains below the Ichimoku Cloud and the 200-day moving average (DMA) at 151.22, signaling a downtrend. However, there is a slight easing in selling pressure, as indicated by the upward trend of the Relative Strength Index (RSI). If USD/JPY surpasses the 145.00 mark, a potential rally could be expected.
Resistance levels to watch out for include 146.42 (Tenkan-Sen), 147.91 (Senkou Span A), and 149.39 (August 15 high). On the downside, key support lies at 144.00, with a further drop likely targeting the psychological level of 140.00.
USD/JPY Price Action – Daily Chart
Japanese Yen Price Today
The table below displays the percentage change of the Japanese Yen (JPY) against major currencies today. The JPY was the strongest against the US Dollar, with minor fluctuations against other currencies.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | -0.02% | 0.00% | 0.01% | -0.01% | 0.00% | -0.00% | -0.01% |
Overall, the USD/JPY pair is poised for a short-term rally if it breaches the 145.00 resistance level. Traders should monitor key support and resistance levels to make informed investment decisions based on the current market trends.