- USD/JPY shows minimal change, indicating a stable weekly close.
- The weekly chart suggests an upward trend with resistance at Tenkan-Sen (149.53); a break above could target 150.00.
- USD/JPY daily chart key levels to watch include 150.77 and YTD high at 151.91 for upside, 148.01, and 147.15 for downside.
The USD/JPY is almost flat late in the North American session, though set to end the week near today’s opening price and exchange hands at 149.47, printing minuscule losses of 0.02%.
From a weekly chart perspective, the USD/JPY is upward biased, and as the week comes to an end, a ‘dragonfly doji’ is forming, which implies the pair could resume its uptrend. Nevertheless, the major faces solid resistance at the Tenkan-Sen at 149.53. If buyers achieve a weekly close above the latter, the pair could re-test the 150.00 figure.
The USD/JPY daily chart shows back-to-back session posting doji’s, which implies traders are undecided. On the upside, traders will collide with the Tenkan-Sen at 149.47, followed by the 150.00 figure, and the November 17 swing high at 150.77. Once cleared, the next resistance would be the year-to-date (YTD) high of 151.91.
On the flip side, if sellers drag prices below 149.00, that would exacerbate a drop toward the November 21 daily low of 148.01, followed by the latest cycle low at 147.15.
USD/JPY Price Analysis – Daily Chart
USD/JPY Technical Levels
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
AUD/USD sticks to half-yearly highs of 0.6740 ahead of US NFP
AUD/USD consolidates near a multi-month peak at 0.6740 in the Asian session on Friday as traders keenly await the the US NFP report. The Fed-RBA policy divergence continues to underpin the pair.
USD/JPY falls hard toward 160.50, US NFP data awaited
USD/JPY is falling hard toward 160.50 in Asian trading on Friday, having reversed from near 161.40. The pair drops on renewed US Dollar weakness and Japanese verbal intervention, which rescues the Yen. The focus shifts to US jobs report.
Gold price steadily climbs back closer to two-week high, focus remains glued to US NFP
Gold price extends its consolidative price move during the Asian session on Friday and remains well within the striking distance of the highest level since June 21 touched earlier this week. The recent softer US macro data reaffirmed market bets that the Federal Reserve will begin cutting rates in September.
Is the party over for meme coins?
According to Santiment's data on Thursday, meme coins have experienced steep declines in the past few weeks, following speculation that the crypto market has passed its euphoria phase.
US jobs report preview – Will Nonfarm Payrolls disappoint?
Will the July Nonfarm Payrolls report disappoint, sending stocks and the US Dollar lower? Let's take a look at what the signal is from the other labor market indicators because forex fundamentals matter for trading.