The USD/JPY saw a slight increase of 0.06% during the North American session but failed to break above 158.00. The RSI turning bearish, Chikou Span crossing below price action, and Tenkan-Sen crossing beneath Kijun-Sen are all bearish signals indicating a potential downward trend. Key support levels are identified at 157.00, 156.00, and the bottom of the Kumo at 155.50/60, with further support at 155.37 and 155.00. Potential resistance levels are at 157.50 and the July 16 peak at 158.85 if buyers manage to push the pair higher.
The technical outlook for USD/JPY shows that momentum remains on the sellers’ side, with the potential for prices to drop below the Ichimoku Cloud (Kumo). If USD/JPY falls below 157.00, this could result in downward pressure pushing prices towards 156.00 and potentially to the bottom of the Kumo at 155.50/60. Further downside could see the pair testing levels at 155.37 and 155.00, with additional support at the May 16 swing low of 153.61 and the May 2 pivot low at 151.87. On the other hand, if buyers step in and push the pair above 157.50, there may be a re-test of the July 16 peak at 158.85.
The table below shows the percentage change of the Japanese Yen (JPY) against other major currencies. The Japanese Yen saw strength against the New Zealand Dollar. The heat map provides a visual representation of the percentage changes of major currencies against each other. By selecting the Japanese Yen as the base currency and moving along the horizontal line to the US Dollar, for example, the percentage change displayed in the box will represent JPY/USD. This data can be useful for traders and investors to track the performance of the Japanese Yen against other major currencies and make informed decisions.
In conclusion, the USD/JPY experienced a slight increase during the North American session but failed to break above 158.00. Bearish signals suggest a potential downward trend, with key support levels identified at 157.00, 156.00, and 155.50/60. Resistance levels are at 157.50 and the July 16 peak at 158.85 if buyers push the pair higher. Traders and investors can monitor the technical outlook and percentage changes of the Japanese Yen against major currencies to make informed decisions in the forex market.
