The USDJPY currency pair, currently at a level of 144.054, is experiencing a decline, moving away from its highest value achieved so far this year. This decrease is happening due to indications that Japanese authorities may intervene in the market.
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- USD/JPY trades lower, retreating from its year-to-date (YTD) high amid signals of potential intervention by Japanese authorities.
The pair currently trades last at 144.054.
The previous day high was 144.74 while the previous day low was 144.08. The daily 38.2% Fib levels comes at 144.49, expected to provide resistance. Similarly, the daily 61.8% fib level is at 144.33, expected to provide resistance.
USD/JPY retreats from the year-to-date (YTD) high of 145.07, extending its losses below the 144.10 area, as the US Dollar (USD) weakens despite US Treasury bond yields, particularly the 10-year benchmark note rate edged above the 4.00% threshold. At the time of writing, the USD/JPY exchanges hand at 144.06, down 0.40%.
USD/JPY price action suggests the pair is headed for a deeper pullback after Japanese authorities threatened to intervene in the Forex market. The USD/JPY remains upward biased, but the pullback could extend past the 144.00 mark toward the 20-day Exponential Moving Average (EMA) at 142.95.
Of note, the USD/JPY achieved a daily close below the July 3 daily open of 144.08. That could exacerbate a drop below 144.00, exposing the 143.50 psychological level, followed by the 20-day EMA at 142.95. Downside risks will emerge at the June 21 daily high of 142.37, followed by the 142.00 mark.
On the upside, immediate resistance lies at the year-to-date (YTD) high of 145.07, followed by the May 10 high at 146.59.
Technical Levels: Supports and Resistances
USDJPY currently trading at 144.05 at the time of writing. Pair opened at 144.66 and is trading with a change of -0.42 % .
| Overview | Overview.1 | |
|---|---|---|
| 0 | Today last price | 144.05 |
| 1 | Today Daily Change | -0.61 |
| 2 | Today Daily Change % | -0.42 |
| 3 | Today daily open | 144.66 |
The pair remains strongly bullish on the daily timeframe. It trades above its 20 SMA @ 142.37, 50 SMA 139.44, 100 SMA @ 136.62 and 200 SMA @ 137.24.
| Trends | Trends.1 | |
|---|---|---|
| 0 | Daily SMA20 | 142.37 |
| 1 | Daily SMA50 | 139.44 |
| 2 | Daily SMA100 | 136.62 |
| 3 | Daily SMA200 | 137.24 |
The previous day high was 144.74 while the previous day low was 144.08. The daily 38.2% Fib levels comes at 144.49, expected to provide resistance. Similarly, the daily 61.8% fib level is at 144.33, expected to provide resistance.
Note the levels of interest below:
- Pivot support is noted at 144.25, 143.84, 143.59
- Pivot resistance is noted at 144.9, 145.15, 145.56
| Levels | Levels.1 |
|---|---|
| Previous Daily High | 144.74 |
| Previous Daily Low | 144.08 |
| Previous Weekly High | 145.07 |
| Previous Weekly Low | 142.94 |
| Previous Monthly High | 145.07 |
| Previous Monthly Low | 138.43 |
| Daily Fibonacci 38.2% | 144.49 |
| Daily Fibonacci 61.8% | 144.33 |
| Daily Pivot Point S1 | 144.25 |
| Daily Pivot Point S2 | 143.84 |
| Daily Pivot Point S3 | 143.59 |
| Daily Pivot Point R1 | 144.90 |
| Daily Pivot Point R2 | 145.15 |
| Daily Pivot Point R3 | 145.56 |
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