Market Analysis: USD/JPY Eyes Fresh Increase
Market Analysis: USD/JPY Eyes Fresh Increase
USD/JPY is rising and might gain pace above the 144.65 resistance.
Important Takeaways for USD/JPY Analysis Today
- USD/JPY climbed higher above the 142.50 and 143.40 levels.
- There is a connecting bullish trend line forming with support at 143.45 on the hourly chart at FXOpen.
USD/JPY Technical Analysis
On the hourly chart of USD/JPY at FXOpen, the pair started a fresh upward move from the 141.65 zone. The US Dollar gained bullish momentum above 142.80 against the Japanese Yen.
It even cleared the 50-hour simple moving average and 143.00. The bulls pushed the pair above the 143.50 and it tested the 50% Fib retracement level of the downward move from the 146.49 swing high to the 141.65 low.
The current price action above the 143.20 level is positive. Immediate resistance on the USD/JPY chart is near 144.65 and the 61.8% Fib retracement level of the downward move from the 146.49 swing high to the 141.65 low.
The first major resistance is near 145.20. If there is a close above the 145.20 level and the RSI moves above 60, the pair could rise toward 146.50. The next major resistance is near 148.00, above which the pair could test 150.00 in the coming days.
On the downside, the first major support is near a connecting bullish trend line with support at 143.45 and the 50-hour simple moving average, below which the bears could gain strength.
The next major support is visible near the 141.65 level. If there is a close below 141.65, the pair could decline steadily. In the stated case, the pair might drop toward the 140.00 support zone. The next stop for the bears may perhaps be near the 138.00 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.
USD/JPY is rising and might gain pace above the 144.65 resistance.
Important Takeaways for USD/JPY Analysis Today
- USD/JPY climbed higher above the 142.50 and 143.40 levels.
- There is a connecting bullish trend line forming with support at 143.45 on the hourly chart at FXOpen.
USD/JPY Technical Analysis
On the hourly chart of USD/JPY at FXOpen, the pair started a fresh upward move from the 141.65 zone. The US Dollar gained bullish momentum above 142.80 against the Japanese Yen.
It even cleared the 50-hour simple moving average and 143.00. The bulls pushed the pair above the 143.50 and it tested the 50% Fib retracement level of the downward move from the 146.49 swing high to the 141.65 low.
The current price action above the 143.20 level is positive. Immediate resistance on the USD/JPY chart is near 144.65 and the 61.8% Fib retracement level of the downward move from the 146.49 swing high to the 141.65 low.
The first major resistance is near 145.20. If there is a close above the 145.20 level and the RSI moves above 60, the pair could rise toward 146.50. The next major resistance is near 148.00, above which the pair could test 150.00 in the coming days.
On the downside, the first major support is near a connecting bullish trend line with support at 143.45 and the 50-hour simple moving average, below which the bears could gain strength.
The next major support is visible near the 141.65 level. If there is a close below 141.65, the pair could decline steadily. In the stated case, the pair might drop toward the 140.00 support zone. The next stop for the bears may perhaps be near the 138.00 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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