USD/JPY Seems Unstoppable
USD/JPY is again rising and might climb toward the 150.00 level.
Important Takeaways for USD/JPY Analysis Today
· USD/JPY climbed higher above the 148.00 and 148.75 levels.
· There was a rejection noticed near a bearish trend line at 150.15 on the hourly chart at FXOpen.
USD/JPY Technical Analysis
On the hourly chart of USD/JPY at FXOpen, the pair started a decent increase from the 145.00 zone. The US Dollar gained bullish momentum above 148.00 against the Japanese Yen.
It settled above the 50-hour simple moving average and 148.75. However, the pair faced a rejection noticed near a bearish trend line at 150.15. There was a sharp decline below the 148.00 level. However, it turned out to be a false move and the price trimmed most losses.
It is back above the 148.75 level and the 61.8% Fib retracement level of the downward move from the 150.15 swing high to the 147.32 low.
Immediate resistance on the USD/JPY chart is near the 50-hour simple moving average at 149.50. It is close to the 76.4% Fib retracement level of the downward move from the 150.15 swing high to the 147.32 low.
The first major resistance is near 150.15. If there is a close above the 150.15 level and the RSI moves above 50, the pair could rise toward 151.20. The next major resistance is near 152.00, above which the pair could test 153.50 in the coming days.
On the downside, the first major support is near 148.75. The next major support is 148.00. If there is a close below 148.00, the pair could decline steadily.
In the stated case, the pair might drop toward the 147.30 support zone. The next stop for the bears may perhaps be near the 145.50 region.
This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Important Takeaways for USD/JPY Analysis Today
· USD/JPY climbed higher above the 148.00 and 148.75 levels.
· There was a rejection noticed near a bearish trend line at 150.15 on the hourly chart at FXOpen.
USD/JPY Technical Analysis
On the hourly chart of USD/JPY at FXOpen, the pair started a decent increase from the 145.00 zone. The US Dollar gained bullish momentum above 148.00 against the Japanese Yen.
It settled above the 50-hour simple moving average and 148.75. However, the pair faced a rejection noticed near a bearish trend line at 150.15. There was a sharp decline below the 148.00 level. However, it turned out to be a false move and the price trimmed most losses.
It is back above the 148.75 level and the 61.8% Fib retracement level of the downward move from the 150.15 swing high to the 147.32 low.
Immediate resistance on the USD/JPY chart is near the 50-hour simple moving average at 149.50. It is close to the 76.4% Fib retracement level of the downward move from the 150.15 swing high to the 147.32 low.
The first major resistance is near 150.15. If there is a close above the 150.15 level and the RSI moves above 50, the pair could rise toward 151.20. The next major resistance is near 152.00, above which the pair could test 153.50 in the coming days.
On the downside, the first major support is near 148.75. The next major support is 148.00. If there is a close below 148.00, the pair could decline steadily.
In the stated case, the pair might drop toward the 147.30 support zone. The next stop for the bears may perhaps be near the 145.50 region.
This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
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