The USD/JPY pair extended its losses as downward momentum accelerated following the volatility caused by the US Nonfarm Payrolls data. Key support levels to watch include 142.50, 142.00, and today’s low of 141.77, with further downside potential if these levels are breached. On the upside, resistance stands at 143.44, with higher targets at 144.49 and 145.00 if bulls regain control.
USD/JPY Price Forecast: Technical Outlook
The USD/JPY downtrend persisted after the latest data release, with sellers maintaining control. The Relative Strength Index (RSI) confirms the downward momentum. Support levels to watch are 142.50, 142.00, and 141.77, while resistance levels are at 143.44, 144.49, and 145.00.
USD/JPY Price Action – Daily Chart
Analysis
The USD/JPY pair is currently in a downtrend, with sellers dominating the market. Support levels at 142.50, 142.00, and 141.77 are crucial to watch for further downside potential. On the upside, resistance levels at 143.44, 144.49, and 145.00 will be key if bulls regain control. Understanding these levels can help traders make informed decisions and manage their risk effectively in the USD/JPY market.