USD/JPY Price Analysis: Gains momentum above 143.30 mark following BOJ Summary of Opinions – by lilyfinancial USDJPY Majors Technical Analysis
The immediate resistance emerges at 142.60; the key contention is located at 142.00.The USD/JPY pair reverses Friday’s pullback and holds ground around 142.22 heading into the early European session on Monday. According to a summary of the opinions of the Bank of Japan released on Monday, one board member said that wages and prices could keep rising at a pace not seen in the past.
According to the four-hour chart, the USD/JPY pair stands above the 50- and 100-hour Exponential Moving Averages with an upward slope, which means the path of least resistance is to the upside for the time being. USD/JPY’s immediate resistance emerges at 142.60 . Further north, the 142.90–143.00 area appears to be a tough nut to crack for USD/JPY. The mentioned level represents the confluence of a psychological round mark and a high of August 4. Any meaningful follow-through buying could pave the way to the next hurdle at 143.60 and 143.90 .
On the downside, the key contention for USD/JPY is located at 142.00 . The next stop for the pair is seen at 141.55 , followed by 141.30 and 141.00 . It’s worth noting that the Relative Strength Index stands below 50 and the MACD holds in bearish territory, which indicates that the downside momentum has been activated.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
USD/JPY flat-lines around 141.65 area, just above Friday’s post-NFP swing lowThe USD/JPY pair surrenders its modest Asian session gains to the 142.00 neighbourhood and retreats to the lower end of the intraday range in the last
Read more »
Weekly Forex Forecast \u2013 NASDAQ 100 Index, USD/JPY, Cocoa FutMarkets became increasingly bearish this week after Fitch\u2019s downgrade of its US rating, posting an \u201Ceverything selloff\u201D which saw almost every trend rally hit q
Read more »
USD/JPY traces mildly bid yields near 142.00, ignores hawkish BoJ concerns ahead of US CPIUSD/JPY traces mildly bid yields near 142.00, ignores hawkish BoJ concerns ahead of US CPI – by anilpanchal7 USDJPY BOJ Fed YieldCurve Inflation
Read more »
Binance Coin (BNB) Price Analysis for August 5How long can the sideways trading of BNB last? Dave_Jonez_02 BNB Pain_Alive_BNB Binance_DEX BinanceResearch BinanceAngels
Read more »
Worldcoin (WLD) Price Analysis for August 5Can the rate of WLD rise against the market correction?
Read more »
XRP Price Analysis for August 6Has the rate of XRP touched the local bottom yet? XrpYoyo ANT159694954 nuonrg WillyWonkaXRP RippleXrpie boncryp
Read more »