As the world’s leading investment manager and financial market journalist, I bring you the latest insights on the USD/JPY pair. Currently, USD/JPY is facing pressure near 143.39, indicating a bearish trend towards support levels at 143.00 and 142.50. Failure to break above 143.44 may provide an opportunity for USD bulls, especially if the upcoming US Nonfarm Payrolls data exceeds expectations.
Key resistance levels to watch out for include 145.03 (Tenkan-Sen), 145.73 (Kijun-Sen), and the psychological barrier of 150.00. The recent decline in USD/JPY has brought the pair to a four-week low of 142.85, with the potential for further downside momentum.
USD/JPY Price Forecast: Technical Outlook
Despite the recent downtrend, USD/JPY has struggled to break below the key support level of 143.44. The Relative Strength Index (RSI) indicates a bearish bias, supported by the upcoming US Nonfarm Payrolls report. If the bearish momentum continues, we could see a further decline towards 142.50 and 142.00.
On the other hand, a positive US jobs report could lead to a breakout above the resistance levels at 145.03 and 145.73, with a potential target of 150.00. Traders should monitor these key levels closely for potential trading opportunities.
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 Japanese Yen showed strength against the Swiss Franc, highlighting the currency’s performance in the current market environment.
Overall, the USD/JPY pair is at a critical juncture, with key support and resistance levels defining its next move. Traders and investors should stay informed about upcoming economic data releases and market trends to make informed decisions about their financial portfolios.