- The USD/JPY exceeds Monday, quoting about 145.20 in the middle of an optimistic risk tone.
- The impulse of the RSI favors the bullies; The key resistance is 145.38 and 146.00.
- The negative side is limited by the support zone of 144.00 and the 200 -day SMA in 144.26.
The USD/JPY advances for the first time in the week, exceeding the maximum of Monday of 144.95, while the US dollar rises due to the speculation that Washington and Beijing could reach a commercial agreement in London. This has pushed the torque above 145.00, registering profits of more than 0.24%.
Forecast of the USD/JPY price: technical perspective
Consolidation is the key. The USD/JPY is caught down due to the confluence of the lower part of the Ichimoku (Kumo) cloud, the simple mobile average (SMA) of 200 days in 144.26, and the closure of June 9 about 144.00. In the upper part, the first resistance is the Senkou Span B in 145.18, followed by the Kijun-sen in 145.38.
The relative force index (RSI) is upward. Therefore, the torque can resume its short -term bullish trend, once it exceeds key resistance levels.
If buyers of the USD/JPY claim 145.38, the following objective is 146.00. A decisive break will expose the 100 -day SMA at 147.72. Otherwise, if the PAR falls below 144.00, the first support would be the minimum of June 3 in 142.37 and the minimum of May 27 in 142.11.
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 pound sterling.
| USD | EUR | GBP | JPY | CAD | Aud | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | -0.23% | 0.21% | 0.01% | -0.14% | -0.37% | -0.51% | 0.13% | |
| EUR | 0.23% | 0.43% | 0.23% | 0.07% | -0.13% | -0.29% | 0.35% | |
| GBP | -0.21% | -0.43% | -0.10% | -0.36% | -0.54% | -0.72% | -0.08% | |
| JPY | -0.01% | -0.23% | 0.10% | -0.16% | -0.45% | -0.58% | -0.01% | |
| CAD | 0.14% | -0.07% | 0.36% | 0.16% | -0.25% | -0.36% | 0.27% | |
| Aud | 0.37% | 0.13% | 0.54% | 0.45% | 0.25% | -0.16% | 0.47% | |
| NZD | 0.51% | 0.29% | 0.72% | 0.58% | 0.36% | 0.16% | 0.63% | |
| CHF | -0.13% | -0.35% | 0.08% | 0.01% | -0.27% | -0.47% | -0.63% |
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).
USD/JPY – Diario price chart
And in Japanese faqs
The Japanese Yen (JPY) is one of the most negotiated currencies in the world. Its value is determined in general by the march of the Japanese economy, but more specifically by the policy of the Bank of Japan, the differential between the yields of the Japanese and American bonds or the feeling of risk among the operators, among other factors.
One of the mandates of the Bank of Japan is the currency control, so its movements are key to the YEN. The BOJ has intervened directly in the currency markets sometimes, generally to lower the value of YEN, although it abstains often due to the political concerns of its main commercial partners. The current ultralaxy monetary policy of the BOJ, based on mass stimuli to the economy, has caused the depreciation of the Yen in front of its main monetary peers. This process has been more recently exacerbated due to a growing divergence of policies between the Bank of Japan and other main central banks, which have chosen to abruptly increase interest rates to fight against inflation levels of decades.
The position of the Bank of Japan to maintain an ultralaxa monetary policy has caused an increase in political divergence with other central banks, particularly with the US Federal Reserve. This favors the expansion of the differential between the American and Japanese bonds to 10 years, which favors the dollar against Yen.
The Japanese Yen is usually considered a safe shelter investment. This means that in times of tension in markets, investors are more likely to put their money in the Japanese currency due to their supposed reliability and stability. In turbulent times, the Yen is likely to be revalued in front of other currencies in which it is considered more risky to invest.
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.
