Economic Calendar
Moderate levels of volatility may be anticipated in shorter time frames.
USD/JPY hourly chart analysis
The price is trading above all three Simple Moving Averages, which are now stacked in a bullish formation. This indicates possibly strong, multi-layered momentum. The RSI is high at 69.92, confirming the strong buying pressure, though it is approaching overbought territory. The moving averages have formed a new support base around 153.45, while the next major target and resistance level is 155.00.Hourly Chart
USD/JPY daily candle chart analysis
The price is in a clear, established uptrend, trading far above all three Simple Moving Averages. These averages are in a "golden cross" alignment, confirming the strength of the trend. The 50-day SMA acts as the first major support. The next visible resistance targets are 157.10 and the major psychological level of 160.00. While technically bullish, the primary risk is intervention from the Bank of Japan.
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Traders sentiment mixed
Continuing previous trend, USD/JPY has no clear directional bias because it has been locked in a long-term sideways range on the daily chart, although directional momentum in the near term may provide way in the near term.