- USD/JPY trades at a loss ending five days of gains amid falling dollar and risk aversion.
- A daily close below 138.17 could send the pair lower, with 138.00 as main support.
- USD/JPY needs to recapture the 138.00 level to regain bullish momentum, with resistances at 138.17 and 139.00.
The USD/JPY pair forms a bearish candlestick pattern, breaking five days of gains, down nearly 0.60%, after hitting a weekly high of 138.74. Risk aversion and dollar weakness weighed on the USD/JPY pair. At the time of writing, the USD/JPY pair is trading at 137.90, below its opening price.
USD/JPY Price Analysis: Technical Perspective
The USD/JPY pair maintains a bullish bias, but a bearish candlestick formation could open the door for further losses. The Relative Strength Index (RSI) remains in bullish territory but is pointing lower, which could halt USD/JPY’s slide. However, if USD/JPY achieves a daily close below the Dec 15 daily low at 138.17, this would put bearish pressure on the pair.
In that case, the first support for USD/JPY would be 138.00. A break of this latter level would expose the May 18 daily low at 137.28, followed by the May 17 swing low at 136.30.
USD/JPY must reclaim the 138.00 figure for a bullish resumption. Once this is done, the next resistance would be the December 15 high at 138.17, followed by the 139.00 figure. A rally above the latter would expose USD/JPY to the upside. A recovery above the latter would expose the November 30 high at 139.89, before challenging the 140.00 figure.
USD/JPY Price Action – Daily Chart
USD/JPY
Overview | |
---|---|
Last price today | 137.89 |
Today Change Daily | -0.82 |
today’s daily variation | -0.59 |
today’s daily opening | 138.71 |
Trends | |
---|---|
daily SMA20 | 135.38 |
daily SMA50 | 133.8 |
daily SMA100 | 133.07 |
daily SMA200 | 137.1 |
levels | |
---|---|
previous daily high | 138.75 |
previous daily low | 137.29 |
Previous Weekly High | 135.77 |
previous weekly low | 133.74 |
Previous Monthly High | 136.56 |
Previous monthly minimum | 130.63 |
Fibonacci daily 38.2 | 138.19 |
Fibonacci 61.8% daily | 137.85 |
Daily Pivot Point S1 | 137.75 |
Daily Pivot Point S2 | 136.79 |
Daily Pivot Point S3 | 136.29 |
Daily Pivot Point R1 | 139.21 |
Daily Pivot Point R2 | 139.71 |
Daily Pivot Point R3 | 140.66 |
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.