USD/JPY Price Analysis: Subdued at around 159.60 amid intervention threats

USD/JPY remains flat as US Treasury yields tumble.
Technical outlook shows upward bias with bullish RSI, but risks persist due to potential Japanese intervention.
Key resistance levels: psychological 160.00 mark, YTD high at 160.32, further gains at 160.50 and 161.00.
Key support levels: day's low at 158.75, Tenkan-Sen at 157.82, Senkou Span A at 157.53, and Kijun-Sen at 157.24.

Christian Borjon Valencia FXStreet

The USD/JPY is flat late in the North American session as US Treasury yields fell. Intervention threats by Japanese authorities refrained traders from pushing the exchange rate above 160.00. At the time of writing, the pair trades at 159.62, unchanged.

USD/JPY Price Analysis: Technical outlook

The USD/JPY is upward biased after climbing above the 159.00 figure, spurring fears that Japanese authorities or the Bank of Japan (BoJ) might intervene in the FX markets.

Momentum favors buyers, with the Relative Strength Index (RSI) remaining bullish, but downward risks persist. If USD/JPY clears the psychological 160.00 mark, the next resistance level would be the year-to-date (YTD) high of 160.32. Further gains are anticipated above 160.50 and at 161.00.

Conversely, if USD/JPY drops below the day's low of 158.75, it could pave the way for testing key support levels. The next support would be the Tenkan-Sen at 157.82, followed by the Senkou Span A at 157.53, and then the Kijun-Sen at 157.24.

USD/JPY Price Action – Daily Chart

USD/JPY

Overview
Today last price	159.63
Today Daily Change	0.00
Today Daily Change %	0.00
Today daily open	159.63

Trends
Daily SMA20	157.29
Daily SMA50	156.25
Daily SMA100	153.33
Daily SMA200	150.41

Levels
Previous Daily High	159.93
Previous Daily Low	158.75
Previous Weekly High	159.84
Previous Weekly Low	157.16
Previous Monthly High	157.99
Previous Monthly Low	151.86
Daily Fibonacci 38.2%	159.2
Daily Fibonacci 61.8%	159.48
Daily Pivot Point S1	158.94
Daily Pivot Point S2	158.25
Daily Pivot Point S3	157.76
Daily Pivot Point R1	160.12
Daily Pivot Point R2	160.62
Daily Pivot Point R3	161.31

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 stays weak near 1.1850 after dismal German ZEW data

EUR/USD remains in the red near 1.1850 in the European session on Tuesday. A broad US Dollar bullish consolidation combined with a softer risk tone keep the pair undermined alongside downbeat German ZEW sentiment readings for February.

GBP/USD holds losees near 1.3600 after weak UK jobs report

GBP/USD is holding moderate losses near the 1.3600 level in Tuesday's European trading. The United Kingdom employment data suggested worsening labor market conditions, bolstering bets for a BoE interest rate cut next month. This narrative keeps the Pound Sterling under bearish pressure.

Gold pares intraday losses; keeps the red above $4,900 amid receding safe-haven demand

Gold (XAU/USD) attracts some follow-through selling for the second straight day and dives to over a one-week low, around the $4,858 area, heading into the European session on Tuesday.

Canada CPI expected to show sticky inflation in January, still above BoC’s target

Economists see the headline CPI rising by 2.4% in a year to January, still above the BoC’s target and matching December’s increase. On a monthly basis, prices are expected to rise by 0.1%.

UK jobs market weakens, bolstering rate cut hopes

In the UK, the latest jobs report made for difficult reading. Nonetheless, this represents yet another reminder for the Bank of England that they need to act swiftly given the collapse in inflation expected over the coming months.

Stellar mixed sentiment caps recovery

Stellar price remains under pressure, trading at $0.170 on Tuesday after failing to close above the key resistance on Sunday. The derivatives metric supports the bearish sentiment, with XLM’s short bets rising among traders and funding rates turning negative.