- USD/JPY declines to 143.77, weighed by falling US 10-year Treasury yields and bearish market sentiment.
- Key support at 143.45 is now in focus, with further downside risks toward the 143.00 and 142.50 levels.
- Bulls need to reclaim the Kijun-Sen at 148.45 to regain control, with 150.00 acting as a critical resistance.
The USD/JPY collapsed late during the North American session and fell below 144.00 for the first time since last Wednesday. At the time of writing, the major is at 143.77, losing more than 1%.
Softer than expected, US JOLTS data for July increased speculations that the Federal Reserve will lower rates at the upcoming meeting, being the only doubt about the size of the cut. Consequently, that weighed on the closely correlated US 10-year Treasury note yield with the USD/JPY, with the former extending losses by almost 2% at 3.757%.
USD/JPY Price Forecast: Technical outlook
The USD/JPY resumed its downtrend after registering a leg-up from 143.44 (August 26) to 147.21 (September 3 high), sinking following the US data release, as momentum turned bearish.
The Relative Strength Index (RSI) remained bearish, but its slope shifted upwards to downwards, a sign of a trend shift in the short term.
The USD/JPY first support would be the August 26 daily low of 143.45. A breach of the latter would expose key psychological support levels, like the 143.00 mark, followed by the 142.50 and 142.00. Once hurdled, the next stop would be the August 5 low of 141.69.
For bulls to regain control, they must regain the Kijun-Sen at 148.45 before reclaiming the 150.00 figure above the latest cycle high of 149.39.
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 Swiss Franc.
USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
---|---|---|---|---|---|---|---|---|
USD | 0.00% | 0.00% | -0.03% | 0.00% | 0.06% | -0.06% | 0.14% | |
EUR | -0.01% | 0.03% | -0.02% | 0.00% | 0.04% | -0.02% | 0.15% | |
GBP | -0.00% | -0.03% | -0.04% | 0.03% | 0.04% | -0.04% | 0.02% | |
JPY | 0.03% | 0.02% | 0.04% | 0.02% | 0.07% | 0.02% | 0.09% | |
CAD | 0.00% | -0.01% | -0.03% | -0.02% | 0.06% | -0.03% | 0.02% | |
AUD | -0.06% | -0.04% | -0.04% | -0.07% | -0.06% | -0.03% | -0.03% | |
NZD | 0.06% | 0.02% | 0.04% | -0.02% | 0.03% | 0.03% | 0.06% | |
CHF | -0.14% | -0.15% | -0.02% | -0.09% | -0.02% | 0.03% | -0.06% |
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
![EUR/USD holds near 1.1100, looks to post small weekly gains](https://editorial.fxstreet.com/images/Markets/Currencies/Majors/EURUSD/money-9377516_XtraSmall.jpg)
EUR/USD holds near 1.1100, looks to post small weekly gains
EUR/USD trades near 1.1100 in the American session on Friday. Although the risk-averse market atmosphere caps the pair's upside, dovish comments from Fed officials and the disappointing US jobs report help it hold its ground.
![GBP/USD retreats to 1.3150 area after post-NFP spike](https://editorial.fxstreet.com/images/Markets/Currencies/Majors/GBPUSD/iStock-1178148633_XtraSmall.jpg)
GBP/USD retreats to 1.3150 area after post-NFP spike
GBP/USD turns south and declines to 1.3150 area after spiking to 1.3240 in the early American session. The negative shift seen in risk mood following the US labor market data for August helps the US Dollar stay resilient against its peers and weighs on the pair.
![Gold pulls away from near record highs, holds above $2,500](https://editorial.fxstreet.com/images/Markets/Commodities/Metals/Gold/Gold_Bar_XAU_Precious_Metal_XtraSmall.jpg)
Gold pulls away from near record highs, holds above $2,500
Gold came within a touching distance of a new all-time high near $2,530 as US Treasury bond yields turned south on disappointing US jobs data. The US Dollar's resilience amid a souring risk mood, however, caused XAU/USD to erase its daily gains.
![Crypto today: Bitcoin, Ethereum, XRP tests key support, TRON network non-stablecoin activity hits new highs](https://editorial.fxstreet.com/images/Markets/Currencies/Digital%20Currencies/Bitcoin/bitcoins-37949586_XtraSmall.jpg)
Crypto today: Bitcoin, Ethereum, XRP tests key support, TRON network non-stablecoin activity hits new highs
Bitcoin, Ethereum, and XRP hover around key support levels after registering a steep correction earlier this week. TRON network’s stablecoin activity hit new highs following the release of SunPump.
![Nonfarm Payrolls expected to show modest hiring rebound in August after July’s tepid report](https://editorial.fxstreet.com/images/Macroeconomics/EconomicIndicator/Employment/NFP/us-job-hunter-8793311_XtraSmall.jpg)
Nonfarm Payrolls expected to show modest hiring rebound in August after July’s tepid report
The Nonfarm Payrolls report is forecast to show that the US economy added 160,000 jobs in August, after creating 114,000 in July. The Unemployment Rate is likely to dip to 4.2% in the same period from July’s 4.3% reading.
![Moneta Markets review 2024: All you need to know](https://editorial.fxstreet.com/images/IT/Testing/Review/FXSBadgeCertifiedBackg_XtraSmall.png)
Moneta Markets review 2024: All you need to know
VERIFIED In this review, the FXStreet team provides an independent and thorough analysis based on direct testing and real experiences with Moneta Markets – an excellent broker for novice to intermediate forex traders who want to broaden their knowledge base.