The USDJPY currency pair closed at 147.623 on Friday, showing indecisiveness in the market following a reversal in flows on Thursday.

…
This is a premium post.
[s2If !current_user_can(access_s2member_level4)]Please register for FREE REGISTER to read full post below containing analysis. In case of any error or you think you are not able to read the full post below, please email us at support#nehcap.com [lwa][/s2If] [s2If current_user_can(access_s2member_level1)]

• USD/JPY strung up the middle for Friday after Thursday’s reversal flows.

The pair currently trades last at 147.623.

The previous day high was 148.36 while the previous day low was 147.48. The daily 38.2% Fib levels comes at 148.02, expected to provide resistance. Similarly, the daily 61.8% fib level is at 147.81, expected to provide resistance.

The USD/JPY is holding steady with a bullish lean for early Friday trading, teasing into the 147.650 region as the Japanese Yen (JPY) eases on softly-declining national inflation figures.

Markets initially expected national Consumer Price Index (CPI) figures for Japan to step back slightly, with the core CPI (inflation less food price changes) printing in line with the previous figure of 3.1%, beating the median forecast of a flat 3%.

Read more:

Japan inflation: National CPI eases to 3.2% YoY in August vs. 3.3% prior

Friday’s economic calendar isn’t finished with the USD/JPY yet, with the Bank of Japan (BoJ) expected to give their latest inflation rate call. The BoJ is broadly forecast to keep their negative rate regime steady at -0.1%, but abnormally hawkish comments from BoJ officials recently have ramped up expectations of a potential policy adjustment from Japan’s central bank.

Read more:

Japan Interest Rate Decision Preview: Bank of Japan expected to stand pat despite Ueda hawkish hint

The USD/JPY pair is seeking higher territory early in Friday trading, probing for firmer ground above 147.50.

The pair got knocked off an up-and-down pattern through the midweek, peaking near 148.50 before checking the plumbing at 147.30.

The USD/JPY is now looking to stage a slow and steady recovery into the midrange after catching support from the 200-hour Simple Moving Average (SMA), and is facing descending technical resistance from the 100-hour SMA just north of 147.80.

On the daily charts, the USD/JPY is enjoying a consistent bullish trend, rising steadily from early 2023’s lows near the 128.00 major handle, with prices seeing steady support from a bullish 34-day Exponential Moving Average (EMA) near 146.00.

Technical Levels: Supports and Resistances

USDJPY currently trading at 147.61 at the time of writing. Pair opened at 148.35 and is trading with a change of -0.5 % .

The pair remains strongly bullish on the daily timeframe. It trades above its 20 SMA @ 147.0, 50 SMA 144.35, 100 SMA @ 142.17 and 200 SMA @ 137.53.

The previous day high was 148.36 while the previous day low was 147.48. The daily 38.2% Fib levels comes at 148.02, expected to provide resistance. Similarly, the daily 61.8% fib level is at 147.81, expected to provide resistance.

Note the levels of interest below:

• Pivot support is noted at 147.76, 147.17, 146.87
• Pivot resistance is noted at 148.65, 148.95, 149.53

[/s2If]
Download Nehcap EAWe have two EAs that are operational on our LIVE accounts.

1. EA-FIX: Check out the details here. Download EA-FIX . EA-FIX is a non-grid HFT scalper.
2. EA-GROWTH: High quality low dd EA using trend grids. Download EA_GROWTHJoin Our Telegram Group

Share this:

• Facebook
• X

Like this:

Like Loading...