- USD/JPY remains under pressure near 143.39, with momentum indicators favoring a bearish continuation towards the 143.00 and 142.50 support levels.
- Failure to decisively break 143.44 may offer a recovery opportunity for USD bulls if US Non-Farm Payrolls data impresses.
- Key resistance lies at 145.03 (Tenkan-Sen), with further hurdles at 145.73 (Kijun-Sen) and the 150.00 figure.
USD/JPY extended its losses for a third consecutive day, hitting a four-week low of 142.85, however, traders lifted the pair, which closed Thursday’s session with losses of 0.21%. At the start of Friday’s Asian session, the pair is trading at 143.39, virtually unchanged.
USD/JPY Technical Outlook
USD/JPY fell towards multi-week lows but failed to decisively break above the August 26 low of 143.44. This may pave the way for a recovery for USD bulls, who struggled with the falling 10-year US Treasury bond yield.
Despite this, momentum favors further decline, as shown by the Relative Strength Index (RSI). With this and the top-tier US Non-Farm Payrolls report for August on the horizon, the path of least resistance is for a bearish continuation.
The first support for the USD/JPY would be the August 26 daily low of 143.44. A break of the latter would expose key psychological support levels, such as the 143.00 mark. This would be followed by the current week’s low of 142.85, before key psychological levels, the 142.50 and 142.00 marks.
Conversely, a positive US employment report will expose key resistance levels. First, the Tenkan-Sen will be at 145.03, followed by the Kijun-Sen at 145.73, before recovering the 150.00 figure above the latest cycle high of 149.39.
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 Swiss Franc.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | -0.00% | 0.02% | -0.04% | -0.00% | -0.01% | 0.00% | 0.03% | |
| EUR | 0.00% | 0.02% | -0.06% | -0.02% | 0.02% | -0.01% | 0.02% | |
| GBP | -0.02% | -0.02% | -0.06% | -0.02% | -0.02% | -0.01% | 0.00% | |
| JPY | 0.04% | 0.06% | 0.06% | 0.05% | 0.05% | 0.03% | 0.07% | |
| CAD | 0.00% | 0.02% | 0.02% | -0.05% | -0.01% | 0.00% | 0.02% | |
| AUD | 0.00% | -0.02% | 0.02% | -0.05% | 0.00% | -0.01% | 0.01% | |
| NZD | -0.00% | 0.00% | 0.01% | -0.03% | -0.01% | 0.00% | 0.01% | |
| CHF | -0.03% | -0.02% | -0.01% | -0.07% | -0.02% | -0.01% | -0.01% |
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.
