The USD/JPY pair formed a bearish engulfing pattern, indicating a possible further downside in the near term. The RSI momentum also supports sellers, with initial support levels at Tenkan-Sen 145.33 and the psychological 145.00 mark. Bulls would need to reclaim Kijun-Sen at 148.45 and surpass the 150.00 level to reverse the current bearish trend.
Recent developments saw the USD/JPY dropping over 0.80% or more than 100 pips, currently trading at 145.68. The main driving factors behind this move were Bank of Japan (BoJ) Governor Kazuo Ueda’s hawkish remarks and the US 10-year Treasury note’s yield decline during the North American session.
Technical Outlook for USD/JPY Price
Technically, USD/JPY is showing a downward bias with the bearish engulfing pattern. The RSI confirms the momentum favoring sellers. The first support lies at Tenkan-Sen 145.33, followed by the key level of 145.00 and the cycle low of 143.45. Bulls would need to regain control by surpassing Kijun-Sen at 148.45 and breaking above 150.00 to shift the trend.
USD/JPY Daily Chart
Japanese Yen PRICE Today
The table below shows the percentage change of Japanese Yen (JPY) against major currencies today. Japanese Yen showed strength against the Australian Dollar, while other major pairs experienced fluctuations in their exchange rates.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | 0.26% | 0.28% | -0.92% | 0.42% | 1.19% | 0.93% | -0.12% | |
| EUR | -0.26% | 0.00% | -1.16% | 0.14% | 0.91% | 0.55% | -0.39% | |
| GBP | -0.28% | -0.01% | -1.18% | 0.14% | 0.90% | 0.55% | -0.39% | |
| JPY | 0.92% | 1.16% | 1.18% | 1.32% | 2.10% | 1.67% | 0.77% | |
| CAD | -0.42% | -0.14% | -0.14% | -1.32% | 0.75% | 0.32% | -0.53% | |
| AUD | -1.19% | -0.91% | -0.90% | -2.10% | -0.75% | -0.46% | -1.29% | |
| NZD | -0.93% | -0.55% | -0.55% | -1.67% | -0.32% | 0.46% | -0.83% | |
| CHF | 0.12% | 0.39% | 0.39% | -0.77% | 0.53% | 1.29% | 0.83% |
The analysis highlights the current trend in the USD/JPY pair, providing insights for both buyers and sellers to make informed decisions based on technical indicators and market developments.