untitled design

USD/JPY retreats towards 150.50, trims mid-week gains

  • USD/JPY has fallen again to the 150.50 area.
  • The pair was unable to sustain the gains above the 151.00 zone.
  • US data deteriorated market sentiment on Thursday.

The pair USD/JPY fell to Thursday’s lows in the 150.30 area, after poor data from the United States deteriorated risk appetite. The pair fell from the 151.40 area, while USD/JPY falters throughout the trading week.

Initial US jobless claims for the week of November 10 missed the mark, showing a nearly two-year high of 231,000 new claimants for unemployment benefits versus the expected 220,000. There were 218,000 new jobless claims last week, and investors have changed their outlook and are now concerned about the state of the US economy.

US Industrial Production for October also fell above expectations, at -0.6% versus -0.1% expected. US production capacity fell from 0.1% in September, which was revised down from 0.3%.

The week will be completed with the publication on Friday of the figures for construction permits and housing starts in the US, where investors will try to take the pulse of the US economy.

Technical Outlook for USD/JPY

The USD/JPY pair is moving near the upper end of the long-term trade, at the 151.00 level. The pair remains very well traded, and the pair appears poised for another fresh run towards all-time highs above 152.00.

Medium-term support comes from the bullish 50-day moving average (SMA) rising to 149.50, and the long-term USD/JPY bull run has seen price action move away from the 200-day SMA near of 141.25.

USD/JPY Daily Chart

USD/JPY technical levels


Latest price today 150.6
Today Daily variation -0.82
Today’s daily variation -0.54
Today’s daily opening 151.42
daily SMA20 150.44
daily SMA50 149.34
SMA100 daily 146.39
SMA200 daily 141.2
Previous daily high 151.42
Previous daily low 150.05
Previous weekly high 151.6
Previous weekly low 149.35
Previous Monthly High 151.72
Previous monthly low 147.32
Daily Fibonacci 38.2 150.89
Fibonacci 61.8% daily 150.57
Daily Pivot Point S1 150.5
Daily Pivot Point S2 149.59
Daily Pivot Point S3 149.14
Daily Pivot Point R1 151.87
Daily Pivot Point R2 152.33
Daily Pivot Point R3 153.24

Source: Fx Street

You may also like

Get the latest

Stay Informed: Get the Latest Updates and Insights


Most popular