USD/JPY Price Analysis: Turned bearish, as death-cross surfaces, tumbles below 130.00

USD/JPY remained pressured as the 50-DMA crossed beneath the 200-DMA.
Bears stepped in and reclaimed 130.00, as they eye 129.00.

Christian Borjon Valencia FXStreet

USD/JPY fell as the North American session progressed and tumbled below the 130.00 figure, as buyers failed to crack the 20-day Exponential Moving Average (EMA) at 130.74. Factors like a soft US Dollar (USD) and falling US Treasury bond yields are two fundamental reasons for renewed Japanese Yen (JPY) strength. At the time of writing, the USD/JPY is trading at 129.77.

USD/JPY Price Analysis: Technical outlook

Tuesday’s session was characterized by the USD/JPY reaching a weekly high at 131.11, slightly above the 20-day EMA, but dropped to 130.10. Today, the USD/JPY hit a daily high of 130.58 but extended its losses, while the 50-day Exponential Moving Average (EMA) crossed beneath the 200-day EMA, meaning a death cross emerged in the daily, suggesting that further downside is expected.

Oscillators like the Relative Strength Index (RSI) and the Rate of Change (RoC) aim downwards, supporting lower prices.

Therefore, the USD/JPY first support would be the day’s low of 129.26. Break below will expose the 129.00 psychological level, followed by the January 20 swing low at 128.34 and the YTD low of 127.21. As an alternate scenario, if the USD/JPY reclaims 130.00, the pair could challenge the 20-day EMA.

USD/JPY Key Technical Levels

USD/JPY

Overview
Today last price	129.83
Today Daily Change	-0.33
Today Daily Change %	-0.25
Today daily open	130.16

Trends
Daily SMA20	130.84
Daily SMA50	134.44
Daily SMA100	139.87
Daily SMA200	136.74

Levels
Previous Daily High	131.12
Previous Daily Low	129.73
Previous Weekly High	131.58
Previous Weekly Low	127.22
Previous Monthly High	138.18
Previous Monthly Low	130.57
Daily Fibonacci 38.2%	130.26
Daily Fibonacci 61.8%	130.58
Daily Pivot Point S1	129.55
Daily Pivot Point S2	128.94
Daily Pivot Point S3	128.16
Daily Pivot Point R1	130.94
Daily Pivot Point R2	131.72
Daily Pivot Point R3	132.33

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 sticks to positive bias above 1.1800 as trade jitters undermine USD

The EUR/USD pair builds on the previous day's modest gains and attracts some buyers for the second straight day on Thursday amid a softer US Dollar. Spot prices, however, lack bullish conviction and trade around the 1.1815-1.1820 area during the Asian session, up 0.10% for the day.

GBP/USD bounces as soft CPI boosts BoE cut bets

GBP/USD rose 0.42% on Wednesday, recovering toward 1.3600 in a session shaped by softer-than-expected UK inflation data and broad US Dollar weakness. The pair had been consolidating in a tight range between about 1.3450 and 1.3520 for the past few days following the sharp pullback from the late-January high near 1.3870, and Wednesday's move pushed price action back onto the high side of key moving averages.

Gold retains positive bias amid sustained safe-haven demand, softer USD

Gold attracts some buyers for the second straight day as trade jitters and geopolitical tensions ahead of the US-Iran nuclear talks underpin demand for safe-haven assets. Apart from this, a softer US Dollar further supports the bullion, though the underlying bullish sentiment could cap gains. Bulls might also opt to wait for acceptance above the $5,200 mark before positioning for any meaningful appreciating move.

AUD/USD rises toward three-year highs on RBA rate hike bets

AUD/USD remains stronger for the third successive session, trading around 0.7120 during the Asian hours on Thursday. The pair advances toward its three-year high of 0.7147, last touched on February 12, as the Australian Dollar strengthens following hotter-than-expected inflation data from Australia, reinforcing expectations of further interest rate hikes by the Reserve Bank of Australia this year.

Nvidia delivers another monster earnings report, and forecasts big things to come

It was another monster earnings report from Nvidia for fiscal Q4. Revenues were $68.1bn, smashing estimates of $65bn. Gross profit margin was a healthy 75%, up from 73.5% in the prior quarter, and the outlook for this quarter was monstrous.

Cosmos Hub Price Forecast: ATOM rebounds slightly, bearish outlook remains intact

Cosmos Hub (ATOM) price rebounds, trading above $2.05 at the time of writing on Wednesday, after undergoing a sharp correction since last week. Weakening on-chain and derivatives data support a bearish outlook, while technical analysis remains unfavorable.