- The USD/JPY breaks the loss streak, rises more than 0.20% in the middle of the benefits before the weekend.
- The RSI suggests a possible soil, but buyers must exceed 144.00 for bullish tracking.
- The downward risks remain if the torque fails to stay above the key support of 143.00.
The USD/JPY broke seven consecutive days of losses and rose more than 0.20% on Thursday afternoon during the American session. The recent depreciation of the Yen despite the fall in the yields of the US Treasury Bonds and in the midst of the lack of a catalyst could be attributed to the operators who are taking benefits before the weekend. At the time of writing, the par quotes 143.96 after bouncing from minimum daily 142.80.
Forecast of the USD/JPY price: technical perspective
The USD/JPY suggests that buyers exceeded sellers, pushing the torque above the 143.00 figure and ready to stop the drop in the dollar against Yen. The momentum suggests that the torque could be playing background, as indicated by the relative force index (RSI).
However, the RSI is still bassist, although it approaches its neutral line of 50.
That said, buyers will need the USD/JPY to exceed 144.00. A rupture of this last will expose key resistance levels, led by the Kijun-sen in 144.27 and the simple mobile average (SMA) of 20 days in 144.65. If these levels are exceeded, the confluence of Senkou Span A and the psychological figure of 145.00 will follow.
The USD/JPY must remain below the Kijun-sen for a bearish continuation. If achieved, the first support would be 143.00, followed by the minimum oscillation of May 21, 142.80. Once surpassed, the next stop would be the minimum of the previous cycle seen in 142.35, the minimum daily of May 6.
USD/JPY – Diario price chart
And in Japanese price this week
The lower table shows the change percentage of Japanese Yen (JPY) compared to the main currencies this week. Yen Japanese was the strongest currency against the Australian dollar.
| USD | EUR | GBP | JPY | CAD | Aud | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | -0.85% | -0.98% | -0.89% | -0.78% | -0.08% | -0.26% | -0.98% | |
| EUR | 0.85% | -0.16% | 0.00% | 0.12% | 0.90% | 0.65% | -0.12% | |
| GBP | 0.98% | 0.16% | -0.14% | 0.29% | 1.07% | 0.82% | 0.04% | |
| JPY | 0.89% | 0.00% | 0.14% | 0.12% | 1.00% | 0.84% | -0.02% | |
| CAD | 0.78% | -0.12% | -0.29% | -0.12% | 0.74% | 0.52% | -0.25% | |
| Aud | 0.08% | -0.90% | -1.07% | -1.00% | -0.74% | -0.25% | -1.01% | |
| NZD | 0.26% | -0.65% | -0.82% | -0.84% | -0.52% | 0.25% | -0.77% | |
| CHF | 0.98% | 0.12% | -0.04% | 0.02% | 0.25% | 1.01% | 0.77% |
The heat map shows the percentage changes of the main currencies. The base currency is selected from the left column, while the contribution currency is selected in the upper row. For example, if you choose the Japanese yen from the left column and move along the horizontal line to the US dollar, the percentage change shown in the picture will represent the JPY (base)/USD (quotation).
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
