- USD/JPY rises to 157.67, boosted by the Federal Reserve's commitment to higher rates.
- Technical indicators show strong bullish momentum, with key resistance at 158.00.
- Threats of intervention by Japanese authorities keep buyers cautious as the pair advances.
He USD/JPY rises to a four-week high, although it remains limited by threats of intervention by the Japanese authorities. Federal Reserve officials' hawkish stance on monetary policy, which would stick with higher rates for longer, kept the US dollar bid. Therefore, the pair rose by around 0.30%, trading at 157.67.
USD/JPY Price Analysis: Technical Outlook
After clearing resistance at the May 23 high of 157.19, USD/JPY resumed its uptrend, although buyers appear cautious as the pair advances moderately towards 158.00. Momentum remains on the buyers' side, with price action above the Ichimoku (Kumo) cloud, the Tenkan-Sen crossing above the Kijun-Sen, and the RSI in bullish territory.
With more strength, USD/JPY could challenge 158.00. Once broken, the next stop would be the April 26 high of 158.44, before 159.00. More gains lie ahead, such as the year-to-date high of 160.32.
On the contrary, if sellers intervene and push prices below the 157.00 figure, that could pave the way for more losses. In that case, support is seen at the Kijun-Sen at 156.48, followed by the Senkou Span A at 156.25, before the Tenkan-Sen at 156.05.
USD/JPY Price Action – Daily Chart
Price of the Japanese Yen Today
The table below shows the percentage change of the Japanese Yen (JPY) against the major currencies listed today. The Japanese Yen was the strongest against the Euro.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | 0.49% | 0.47% | 0.30% | 0.48% | 0.50% | 0.36% | 0.13% | |
| EUR | -0.49% | -0.02% | -0.20% | -0.02% | 0.00% | -0.14% | -0.37% | |
| GBP | -0.47% | 0.02% | -0.18% | -0.01% | 0.02% | -0.10% | -0.34% | |
| JPY | -0.30% | 0.20% | 0.18% | 0.16% | 0.20% | 0.11% | -0.18% | |
| CAD | -0.48% | 0.02% | 0.01% | -0.16% | 0.03% | -0.11% | -0.35% | |
| AUD | -0.50% | -0.01% | -0.02% | -0.20% | -0.03% | -0.14% | -0.33% | |
| NZD | -0.36% | 0.14% | 0.10% | -0.11% | 0.11% | 0.14% | -0.24% | |
| CHF | -0.13% | 0.37% | 0.34% | 0.18% | 0.35% | 0.33% | 0.24% |
The heat map shows the percentage changes of the major currencies against each other. The base currency is chosen from the left column, while the quote currency is chosen from the top 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 box will represent JPY (base)/USD (quote).
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.
