Created
: 2024.09.19
2024.09.19 00:22
The USD/JPY dropped after reaching a four-day high of 142.47, yet it remains range-bound during the North American session. The rise in US Treasury yields and a soft US Dollar keeps the pair trapped within the September 17 trading range. Therefore, the major trades at 141.88, losses 0.36%
The USD/JPY downtrend remains in place, but the Federal Reserve's decision to cut rates by a smaller or larger size could trigger different reactions. The Relative Strength Index (RSI) favors sellers, hence further downside.
If the Fed lowers rates by 25 basis points, this could be bullish for the USD/JPY and push prices toward the September 17 high at 142.47, which, if cleared, will expose the 143.00 figure.
On the other hand, a 50 bps rate cut could allow the September 17 low of 140.32 to be retested and pave the way for the challenge of the year-to-date (YTD) low of 139.58.
The table below shows the percentage change of Japanese Yen (JPY) against listed major currencies today. Japanese Yen was the strongest against the US Dollar.
USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
---|---|---|---|---|---|---|---|---|
USD | -0.04% | -0.32% | -0.31% | -0.04% | -0.16% | -0.37% | -0.19% | |
EUR | 0.04% | -0.29% | -0.30% | -0.01% | -0.12% | -0.35% | -0.15% | |
GBP | 0.32% | 0.29% | 0.00% | 0.28% | 0.18% | -0.07% | 0.17% | |
JPY | 0.31% | 0.30% | 0.00% | 0.27% | 0.16% | -0.05% | 0.17% | |
CAD | 0.04% | 0.01% | -0.28% | -0.27% | -0.12% | -0.34% | -0.11% | |
AUD | 0.16% | 0.12% | -0.18% | -0.16% | 0.12% | -0.21% | 0.00% | |
NZD | 0.37% | 0.35% | 0.07% | 0.05% | 0.34% | 0.21% | 0.21% | |
CHF | 0.19% | 0.15% | -0.17% | -0.17% | 0.11% | -0.01% | -0.21% |
The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the Japanese Yen from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent JPY (base)/USD (quote).
Created
: 2024.09.19
Last updated
: 2024.09.19
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