USD/JPY Currency Update
After experiencing some losses the day before, USD/JPY saw a slight rise, trading around 163.20 during European hours on Thursday. The currency pair remains above both the 9-day and 50-day exponential moving averages (EMA), indicating a persistent bullish trend. This upward momentum appears to be enhanced as the short EMA sits above the long EMA.
Additionally, the daily technical analysis reveals that USD/JPY is moving within an ascending channel, reinforcing a bullish sentiment. The 14-day Relative Strength Index (RSI) is currently at 66.10, signaling strength without suggesting extreme upward momentum at this point.
Currently, USD/JPY is just shy of the 40-year peak of 163.24, which was reached on July 21st. If it continues to rise, we might see it approaching the upper limit of the ascending channel near 165.00.
On the lower end, the primary support level is around the 9-day EMA at 162.71, followed closely by the lower part of the ascending channel near 162.50. A consistent drop below this channel could potentially lead to a 50-day EMA of 161.16. If it dips further below this medium-term average, it might trigger a bearish trend and exert downward pressure toward the four-month low of 155.04 recorded on May 6th.
Today’s Japanese Yen Price
The following table illustrates the percentage fluctuations of the Japanese Yen (JPY) against several major currencies today, highlighting that the Yen is currently the weakest against the Canadian dollar.
| USD | EUR | GBP | JPY | CAD | Australian Dollar | New Zealand Dollar | Swiss Franc | |
|---|---|---|---|---|---|---|---|---|
| USD | -0.11% | -0.01% | 0.02% | -0.14% | -0.10% | 0.22% | 0.07% | |
| EUR | 0.11% | 0.12% | 0.15% | -0.03% | 0.02% | 0.35% | 0.18% | |
| GBP | 0.00% | -0.12% | 0.04% | -0.17% | -0.11% | 0.23% | 0.06% | |
| JPY | -0.02% | -0.15% | -0.04% | -0.18% | -0.13% | 0.18% | 0.03% | |
| CAD | 0.14% | 0.03% | 0.17% | 0.18% | 0.04% | 0.37% | 0.19% | |
| Australian Dollar | 0.10% | -0.02% | 0.11% | 0.13% | -0.04% | 0.34% | 0.19% | |
| New Zealand Dollar | -0.22% | -0.35% | -0.23% | -0.18% | -0.37% | -0.34% | -0.18% | |
| Swiss Franc | -0.07% | -0.18% | -0.06% | -0.03% | -0.19% | -0.19% | 0.18% |
The heat map presents the percentage change across major currencies, with the base currency identified in the left column and the quote currency in the top row. For instance, selecting the Japanese Yen from the left and moving to USD in the row above displays the percentage change for JPY/ USD.
