The USDJPY is currently trading near 144.90, after falling from its highest level this year during the Asian session.
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- USD/JPY trades around 144.90 after retreating from a YTD high in the Asian session.
The pair currently trades last at 144.908.
The previous day high was 145.0 while the previous day low was 144.42. The daily 38.2% Fib levels comes at 144.78, expected to provide support. Similarly, the daily 61.8% fib level is at 144.64, expected to provide support.
The USD/JPY pair holds below the 145.00 area after retreating from a YTD high during the Asian session. The major pair currently trades around 144.90, down 0.05% for the day.
On Friday, the US Bureau of Labour Statistics revealed that the US Producer Price Index (PPI) for final demand YoY rose 0.8% in July from 0.1% in June. The figure was higher than the market expectation of 0.7%. Additionally, the University of Michigan’s (UoM) Consumer Confidence Index for July fell to 71.2 from 71.6, better than 71 expected. Finally, UoM 5-year Consumer Inflation Expectations declined to 2.9% for August versus 3.0% estimated and prior. The pair faced some follow-through buying following the data. That said, market players anticipated rising bets for further tightening by the Federal Reserve’s (Fed) 25 basis points (bps) by the end of this year. This, in turn, might support the Greenback and act as a tailwind for the USD/JPY pair.
On the other hand, the Bank of Japan (BoJ) offers unlimited Japanese Government Bonds (JGBs) with a residual maturity of 5 to 10 years at a fixed rate in the early Asian session on Monday. Following the data, USD/JPY reaches a new intraday low near 144.65 and posts its first loss in six days after reaching a new yearly high earlier in the day.
In the absence of the top-tier economic data release from Japan this week, market players will focus on US Retail Sales, FOMC Minutes and the comment from the Fed official to take cues and find a clear direction in the USD/JPY pair. Next week, Japan’s Gross Domestic Product (GDP) data from Q2 will be the highlight.
Technical Levels: Supports and Resistances
USDJPY currently trading at 144.91 at the time of writing. Pair opened at 144.96 and is trading with a change of -0.03 % .
| Overview | Overview.1 | |
|---|---|---|
| 0 | Today last price | 144.91 |
| 1 | Today Daily Change | -0.05 |
| 2 | Today Daily Change % | -0.03 |
| 3 | Today daily open | 144.96 |
The pair remains strongly bullish on the daily timeframe. It trades above its 20 SMA @ 141.75, 50 SMA 141.7, 100 SMA @ 138.51 and 200 SMA @ 136.48.
| Trends | Trends.1 | |
|---|---|---|
| 0 | Daily SMA20 | 141.75 |
| 1 | Daily SMA50 | 141.70 |
| 2 | Daily SMA100 | 138.51 |
| 3 | Daily SMA200 | 136.48 |
The previous day high was 145.0 while the previous day low was 144.42. The daily 38.2% Fib levels comes at 144.78, expected to provide support. Similarly, the daily 61.8% fib level is at 144.64, expected to provide support.
Note the levels of interest below:
- Pivot support is noted at 144.59, 144.21, 144.01
- Pivot resistance is noted at 145.17, 145.38, 145.75
| Levels | Levels.1 |
|---|---|
| Previous Daily High | 145.00 |
| Previous Daily Low | 144.42 |
| Previous Weekly High | 145.00 |
| Previous Weekly Low | 141.51 |
| Previous Monthly High | 144.91 |
| Previous Monthly Low | 137.24 |
| Daily Fibonacci 38.2% | 144.78 |
| Daily Fibonacci 61.8% | 144.64 |
| Daily Pivot Point S1 | 144.59 |
| Daily Pivot Point S2 | 144.21 |
| Daily Pivot Point S3 | 144.01 |
| Daily Pivot Point R1 | 145.17 |
| Daily Pivot Point R2 | 145.38 |
| Daily Pivot Point R3 | 145.75 |
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