Market Analysis: USD/JPY Targets More Gains
Market Analysis: USD/JPY Targets More Gains
USD/JPY managed to reclaim 154.00 and might aim for more gains.
Important Takeaways for USD/JPY Analysis Today
- USD/JPY climbed higher above 153.50 and 154.00.
- There is a bullish trend line forming with support near 154.10 on the hourly chart.
USD/JPY Technical Analysis
On the hourly chart of USD/JPY, the pair started a decent increase from 152.80. The US Dollar gained bullish momentum above 153.20 against the Japanese Yen.
It settled above the 50-hour simple moving average and 154.00. The upward move was such that the pair even tested 154.50. A high was formed at 154.49 and the pair is now consolidating gains. There was a minor pullback below 154.00.
However, the bulls protected the 50% Fib retracement level of the upward move from the 152.83 swing low to the 154.49 high. The current price action is positive, and the pair seems to be aiming for more gains.
There is also a bullish trend line forming with support near 154.10. Immediate resistance on the USD/JPY chart is near 154.50. The first key hurdle sits at 155.00. If there is a close above 155.00 and the RSI moves above 70, the pair could rise toward 156.20.
The next stop for the bulls might be 156.80, above which the pair could test 158.00 in the coming days. On the downside, the first major support is near the trend line at 154.10.
The next area of interest could be near 153.65, below which the pair could test the 76.4% Fib retracement at 153.20. Any more losses could open the doors for a move toward 152.80.
This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
USD/JPY managed to reclaim 154.00 and might aim for more gains.
Important Takeaways for USD/JPY Analysis Today
- USD/JPY climbed higher above 153.50 and 154.00.
- There is a bullish trend line forming with support near 154.10 on the hourly chart.
USD/JPY Technical Analysis
On the hourly chart of USD/JPY, the pair started a decent increase from 152.80. The US Dollar gained bullish momentum above 153.20 against the Japanese Yen.
It settled above the 50-hour simple moving average and 154.00. The upward move was such that the pair even tested 154.50. A high was formed at 154.49 and the pair is now consolidating gains. There was a minor pullback below 154.00.
However, the bulls protected the 50% Fib retracement level of the upward move from the 152.83 swing low to the 154.49 high. The current price action is positive, and the pair seems to be aiming for more gains.
There is also a bullish trend line forming with support near 154.10. Immediate resistance on the USD/JPY chart is near 154.50. The first key hurdle sits at 155.00. If there is a close above 155.00 and the RSI moves above 70, the pair could rise toward 156.20.
The next stop for the bulls might be 156.80, above which the pair could test 158.00 in the coming days. On the downside, the first major support is near the trend line at 154.10.
The next area of interest could be near 153.65, below which the pair could test the 76.4% Fib retracement at 153.20. Any more losses could open the doors for a move toward 152.80.
This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
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Haftungsausschluss
Die Informationen und Veröffentlichungen sind nicht als Finanz-, Anlage-, Handels- oder andere Arten von Ratschlägen oder Empfehlungen gedacht, die von TradingView bereitgestellt oder gebilligt werden, und stellen diese nicht dar. Lesen Sie mehr in den Nutzungsbedingungen.