USD/JPY Price Analysis: Bulls move in and target 133.00 ahead of the 200-DMA

USD/JPY gapped up since the Asian session by about 30 pips, reaching a daily high of 132.90.
USD/JPY Price Analysis: Neutral biased, but tilted upwards, with bulls eyeing 133.00.

Christian Borjon Valencia FXStreet

The USD/JPY gapped toward new 5-week highs shy of the 50-day Exponential Moving Average (EMA) by just two pips at 132.89 and remained nearby, about to challenge the 133.00 psychological price level. The last US jobs report crushed estimates, bolstering the US Dollar (USD) on speculations for further Federal Reserve’s (Fed) aggression. Therefore, the USD/JPY rallied 3.45% since Friday and exchanged hands at 132.79 after hitting a low of 131.51.

USD/JPY Price Analysis: Technical outlook

The USD/JPY shifted neutral biased after gapping up from around 131.20 to current exchange rates. On its way up, the major reclaimed the 20-day Exponential Moving Average (EMA) at 130.53, and it’s poised to crack the 50-day EMA at 132.91, ahead of the 133.00 figure.

With the Relative Strength Index (RSI) and the Rate of Change (RoC), oscillators shifted bullish, opening the door for further upside. However, it should be said that the USD/JPY would face the trend-setter 200-day EMA at 133.88, which, once cleared, would pave the way to test the 100-day EMA above the 135.00 figure.

As an alternate scenario, the USD/JPY first support would be 132.00. A breach of the latter and the USD/JPY could test the day’s low at 131.51, followed by last Friday’s high at 131.20. Once those demand zones are broken, it would expose the 20-day EMA at 130.29.

USD/JPY Key Technical Levels

USD/JPY

Overview
Today last price	132.88
Today Daily Change	1.73
Today Daily Change %	1.32
Today daily open	131.15

Trends
Daily SMA20	129.86
Daily SMA50	132.81
Daily SMA100	138.79
Daily SMA200	136.79

Levels
Previous Daily High	131.2
Previous Daily Low	128.33
Previous Weekly High	131.2
Previous Weekly Low	128.08
Previous Monthly High	134.78
Previous Monthly Low	127.22
Daily Fibonacci 38.2%	130.1
Daily Fibonacci 61.8%	129.42
Daily Pivot Point S1	129.25
Daily Pivot Point S2	127.35
Daily Pivot Point S3	126.38
Daily Pivot Point R1	132.12
Daily Pivot Point R2	133.09
Daily Pivot Point R3	134.99

Author

Christian Borjon Valencia

FXStreet

Markets analyst, news editor, and trading instructor with over 14 years of experience across FX, commodities, US equity indices, and global macro markets.

EUR/USD rebounds from session lows, stays below 1.1650

EUR/USD is recovers modestly from session lows but remains in the red below 1.1650 in European trading on Thursday. The pair faces headwinds from a renewed uptick in the US Dollar amid a negative shift in risk sentiment. Surging energy prices due to the Middle East war keep the bearish pressure intact on the Euro. The US Jobless Claims data are next of note.

GBP/USD stays weak near 1.3350 amid UK stagflation risks

GBP/USD sticks to losses near 1.3350 in the European session on Thursday. The Pound Sterling loses ground amid fears that the United Kingdom economy could face stagflation risks due to higher energy prices, while the US Dollar attracts fresh havem demand ahead of the US Jobless Claims data.

Gold climbs near $5,200 as Iran war fuels safe-haven demand

Gold price extends its gains for the second successive session on Thursday as traders seek safety amid the ongoing war in the Middle East. US and Israeli strikes across Iranian territory and widespread Iranian missile and drone retaliation across the Middle East, including attacks on regional targets and military sites, prolong the crisis and its impact.

Three reasons to be bearish on Bitcoin

Bitcoin is holding up well taking into account the uncertainty stemming from the Middle East. Despite this week’s rally, the long-term outlook remains bearish. Here are three reasons why I think the storm for the largest cryptocurrency isn't over yet.

FX alert: When Energy still writes the macro script the Dollar holds the pen

The market is quietly sliding back into the trade nobody wanted to own, but everyone now has to respect again. The no quick off-ramp trade. Yesterday’s bounce in risk assets already looks less like a turning point and more like a classic relief rally in a market that briefly inhaled before realizing the room was still on fire.

Cardano Price Analysis: Approaches key trendline amid bearish sentiment

Cardano (ADA) price is approaching its descending trendline around $0.28 at the time of writing, set to shape the next directional move. The derivatives metrics paint a bearish picture, with ADA’s Open Interest continuing to fall and short bets rising among traders.