The USDJPY is currently at a rate of 144.715. The recent data from the US has exceeded expectations, and now attention is shifting towards Friday’s Core PCE report.
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- US data surpass expectations, focus turns to Friday’s Core PCE.
The pair currently trades last at 144.715.
The previous day high was 144.62 while the previous day low was 143.73. The daily 38.2% Fib levels comes at 144.28, expected to provide support. Similarly, the daily 61.8% fib level is at 144.07, expected to provide support.
The USD/JPY pair is moving towards 145.00, trading at its highest level since mid-November. The US Dollar was boosted by positive data, while Treasury bonds experienced a sell-off.
On Thursday, data showed an upward revision to US growth figures in Q1 GDP from 1.3% to 2%. The weekly Jobless Claims report showed Initial Claims dropped more than expected to the lowest level in four weeks at 239K. These figures added to recent evidence of a robust US economy and raised expectations of more rate hikes from the Federal Reserve. On Friday, consumer inflation data is due.
US bonds tumbled following the report. The US 10-yield surged to 3.84%, and the 2-year to 4.88%, the highest since March. The spread between US and Japanese bond is widening further, reflecting growing monetary policy divergence between the Fed and the Bank of Japan.
The USD/JPY pair printed a fresh monthly high at 144.89 and remains near the top, with strong bullish momentum. The pair is approaching the 145.00 zone, and if the upside continues, rumors about a potential intervention from Japanese authorities may emerge.
A break above 145.00 could trigger volatility and open the doors to further gains. Despite the US Dollar rising in six out of the last seven days versus the Yen, there are no signs of exhaustion. The 144.50 area is the immediate support, followed by daily lows around 144.10 and then 143.75.
Technical Levels: Supports and Resistances
USDJPY currently trading at 144.9 at the time of writing. Pair opened at 144.49 and is trading with a change of 0.28 % .
| Overview | Overview.1 | |
|---|---|---|
| 0 | Today last price | 144.90 |
| 1 | Today Daily Change | 0.41 |
| 2 | Today Daily Change % | 0.28 |
| 3 | Today daily open | 144.49 |
The pair remains strongly bullish on the daily timeframe. It trades above its 20 SMA @ 141.14, 50 SMA 138.39, 100 SMA @ 136.01 and 200 SMA @ 137.22.
| Trends | Trends.1 | |
|---|---|---|
| 0 | Daily SMA20 | 141.14 |
| 1 | Daily SMA50 | 138.39 |
| 2 | Daily SMA100 | 136.01 |
| 3 | Daily SMA200 | 137.22 |
The previous day high was 144.62 while the previous day low was 143.73. The daily 38.2% Fib levels comes at 144.28, expected to provide support. Similarly, the daily 61.8% fib level is at 144.07, expected to provide support.
Note the levels of interest below:
- Pivot support is noted at 143.94, 143.39, 143.06
- Pivot resistance is noted at 144.83, 145.17, 145.72
| Levels | Levels.1 |
|---|---|
| Previous Daily High | 144.62 |
| Previous Daily Low | 143.73 |
| Previous Weekly High | 143.87 |
| Previous Weekly Low | 141.21 |
| Previous Monthly High | 140.93 |
| Previous Monthly Low | 133.50 |
| Daily Fibonacci 38.2% | 144.28 |
| Daily Fibonacci 61.8% | 144.07 |
| Daily Pivot Point S1 | 143.94 |
| Daily Pivot Point S2 | 143.39 |
| Daily Pivot Point S3 | 143.06 |
| Daily Pivot Point R1 | 144.83 |
| Daily Pivot Point R2 | 145.17 |
| Daily Pivot Point R3 | 145.72 |
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