- USD/JPY is up 0.06% but fails to break above 158.00.
- Bearish Signals: RSI turning bearish, Chikou Span crossing below the price action, and Tenkan-Sen crossing below the Kijun-Sen.
- Key supports at 157.00, 156.00, and the bottom of the Kumo at 155.50/60; additional support at 155.37 and 155.00.
- Potential resistance at 157.50 and July 16 peak at 158.85 if buyers push the pair higher.
The USD/JPY rose during the North American session, gaining a decent 0.06% as traders failed to push the exchange rate above 158.00. At the time of writing, the pair is consolidating in the middle of a 90-pip range and trading at 157.44.
USD/JPY Price Analysis: Technical Outlook
USD/JPY is trading range bound ahead of the weekend, but momentum remains on the side of the sellers. The RSI turning bearish and the Chikou Span crossing below the price action were the first two signals of further weakness. This and the Tenkan-Sen crossing below the Kijun-Sen could push prices below the Ichimoku (Kumo) cloud.
If USD/JPY breaks below 157.00, that will put bearish pressure on the pair and push prices towards 156.00, before piercing the bottom of the Kumo at 155.50/60. Once those two levels are breached, the next demand zone would be the July 18 low of 155.37 ahead of 155.00. Further decline lies below that level, exposing the May 16 low of 153.61, followed by the May 2 pivot low at 151.87, before testing the 151.00 mark.
Conversely, if buyers step in and push USD/JPY above 157.50, look for a retest of the July 16 peak at 158.85.
USD/JPY Price Action – Daily Chart
Japanese Yen PRICE Today
The table below shows the Japanese Yen (JPY) exchange rate against major currencies today. The Japanese Yen was the strongest currency against the New Zealand Dollar.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | 0.15% | 0.26% | 0.09% | 0.18% | 0.34% | 0.61% | 0.15% | |
| EUR | -0.15% | 0.11% | -0.05% | 0.00% | 0.18% | 0.46% | 0.00% | |
| GBP | -0.26% | -0.11% | -0.18% | -0.11% | 0.08% | 0.36% | -0.10% | |
| JPY | -0.09% | 0.05% | 0.18% | 0.07% | 0.24% | 0.52% | 0.06% | |
| CAD | -0.18% | -0.00% | 0.11% | -0.07% | 0.15% | 0.44% | -0.02% | |
| AUD | -0.34% | -0.18% | -0.08% | -0.24% | -0.15% | 0.28% | -0.18% | |
| NZD | -0.61% | -0.46% | -0.36% | -0.52% | -0.44% | -0.28% | -0.46% | |
| CHF | -0.15% | -0.01% | 0.10% | -0.06% | 0.02% | 0.18% | 0.46% |
The heatmap shows percentage changes of major currencies. The base currency is selected from the left column, while the quote currency is selected 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 chart will represent the 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.
