USD/JPY Market Update
- USD/JPY appears to have stabilized and is unlikely to recover the 20-day SMA following its recent dip.
- Resistance levels are at 148.00 and 148.51, which could limit gains towards the 200-day SMA around 149.15.
- Support can be found at 147.50 and 147.00, and selling might push prices lower to approach the 50-day SMA.
During Tuesday’s trading session, USD/JPY showed little movement, ending with a slight drop of 0.14%. The pair has slipped under the 20-day simple moving average (SMA) set at 147.86. Currently, it’s trading at 147.61, remaining relatively steady as the Asian market opens on Wednesday.
Looking at the daily charts, it seems the pair will continue to drift sideways as traders await new developments expected on Friday. The Trump administration’s economic policies are putting pressure on the Fed, though it’s unlikely that Powell will adopt a more pessimistic outlook after last week’s mixed inflation data.
Technical Outlook for USD/JPY
USD/JPY is positioned below the 20-day SMA after hitting a multi-week low of 146.21 on August 14th. The pair has tried three times to break through the significant resistance at 148.00 but has yet to succeed. The relative strength index (RSI) hints that buyers still maintain some control, though it’s drifting towards bearish territory.
The immediate resistance levels for USD/JPY are the 20-day SMA and 148.00. Traders looking towards the 200-day SMA at 149.15 will likely target 148.51 first, which was last reached in August. If the price dips below 147.50, expect immediate support at 147.00, followed by the 50-day SMA at 146.63.
Daily USD/JPY Price Chart
This Week’s Japanese Yen Price Overview
The following table illustrates the performance of the Japanese yen against various currencies this week, with the yen showing strength against the Australian dollar.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | 0.56% | 0.47% | 0.30% | 0.37% | 0.86% | 0.50% | 0.26% | |
| EUR | -0.56% | -0.10% | -0.26% | -0.20% | 0.31% | -0.09% | -0.30% | |
| GBP | -0.47% | 0.10% | -0.28% | -0.10% | 0.41% | 0.00% | -0.24% | |
| JPY | -0.30% | 0.26% | 0.28% | 0.09% | 0.58% | 0.22% | -0.04% | |
| CAD | -0.37% | 0.20% | 0.10% | -0.09% | 0.47% | 0.12% | -0.15% | |
| AUD | -0.86% | -0.31% | -0.41% | -0.58% | -0.47% | -0.40% | -0.67% | |
| NZD | -0.50% | 0.09% | -0.00% | -0.22% | -0.12% | 0.40% | -0.27% | |
| CHF | -0.26% | 0.30% | 0.24% | 0.04% | 0.15% | 0.67% | 0.27% |
The heatmap displays changes in major currencies, where the selected base currency appears in the left column, and the target currency is in the top row. For instance, choosing Japanese yen alongside US dollars reflects the percentage change in the corresponding box.
