- USD/JPY rises up 0.06%, but fails to break above 158.00.
- Bearish signals: RSI turning bearish, Chikou Span crossing below price action, and Tenkan-Sen crossing beneath Kijun-Sen.
- Key supports at 157.00, 156.00, and bottom of the Kumo at 155.50/60; further support at 155.37 and 155.00.
- Potential resistance at 157.50 and July 16 peak at 158.85 if buyers push the pair higher.
The USD/JPY edged up during the North American session, gaining a decent 0.06% as traders failed to push the exchange rate above 158.00. At the time of writing, the major consolidates in the middle of a 90-pip range and trades at 157.44.
USD/JPY Price Analysis: Technical outlook
The USD/JPY trades subdued ahead of the weekend, but momentum remains on the sellers’ side. The Relative Strength Index (RSI) turning bearish and the Chikou Span crossing below price action, were the first two signals of further weakness. This and the Tenkan-Sen crossing beneath the Kijun-Sen could push prices below the Ichimoku Cloud (Kumo).
If USD/JPY drops below 157.00, that will exert downward pressure on the pair and push prices toward 156.00, ahead of piercing the bottom of the Kumo at 155.50/60. Once those two levels are surpassed, the next demand zone would be the July 18 low of 155.37 ahead of 155.00. A further downside is below that level, exposing the May 16 swing low of 153.61, followed by the May 2 pivot low at 151.87, ahead of testing the 151.00 mark.
Conversely, if buyers stepped in and pushed the USD/JPY above 157.50, look for a re-test of the July 16 peak at 158.85.
USD/JPY Price Action – Daily Chart
Japanese Yen PRICE Today
The table below shows the percentage change of Japanese Yen (JPY) against listed major currencies today. Japanese Yen was the strongest against the New Zealand Dollar.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | 0.15% | 0.26% | 0.09% | 0.18% | 0.34% | 0.61% | 0.15% | |
| EUR | -0.15% | 0.11% | -0.05% | 0.00% | 0.18% | 0.46% | 0.00% | |
| GBP | -0.26% | -0.11% | -0.18% | -0.11% | 0.08% | 0.36% | -0.10% | |
| JPY | -0.09% | 0.05% | 0.18% | 0.07% | 0.24% | 0.52% | 0.06% | |
| CAD | -0.18% | -0.00% | 0.11% | -0.07% | 0.15% | 0.44% | -0.02% | |
| AUD | -0.34% | -0.18% | -0.08% | -0.24% | -0.15% | 0.28% | -0.18% | |
| NZD | -0.61% | -0.46% | -0.36% | -0.52% | -0.44% | -0.28% | -0.46% | |
| CHF | -0.15% | -0.01% | 0.10% | -0.06% | 0.02% | 0.18% | 0.46% |
The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the Japanese Yen from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent JPY (base)/USD (quote).
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended content
Editors’ Picks
Australian Dollar extends losses as US Dollar improves due to increased risk aversion
The Australian Dollar depreciates for the fifth consecutive session on Friday. China's Third Plenum concluded on Thursday without concrete measures to revitalize the faltering economy. The US Dollar may struggle as soft labor data strengthens expectations of a Fed rate cut in September.
EUR/USD: US Dollar can turn bullish on upbeat growth and inflation data
The EUR/USD pair halted its latest run and is closing the last week unchanged, just below the 1.0900 mark. However, it reached a fresh multi-month high of 1.0947 mid-week, only turning south after the European Central Bank uneventful monetary policy announcement.
Gold: Buyers refrain from betting on further upside after record-setting rally
Gold retreated sharply after touching a new record-high last week. PCE inflation and GDP data from the US will be watched closely by market participants. The near-term technical outlook highlights a loss of bullish momentum.
ALT, WLD, ENA, ID set for $200 million token unlocks next week
The crypto market is set to experience another wave of token unlocks next week, with Altlayer, Worldcoin, Ethena, and Space ID set for a combined token unlock worth about $200 million.
US President Joe Biden stands down from reelection, endorses Kamala Harris
Following a long week of political turmoil, United States President Joe Biden announced on Sunday that he will end his reelection bid and will speak to the nation later this week in more detail about his decision.