Created
: 2024.09.27
2024.09.27 05:17
The USD/JPY remains subdued after seesawing within a 110-pip range, where the pair hit a three-week high of 145.21. Uncertainty around the Japanese election has overshadowed speeches by Bank of Japan (BoJ) officials, who decided to hold rates unchanged last week. At the time of writing, the major trades at 144.72, flat.
From a technical standpoint, the downtrend is set to continue. Thursday's price action forms a 'doji', meaning neither buyers nor sellers commit to solid positions. Even the Relative Strength Index (RSI), despite showing bulls in charge, the RSI slope is flat at 51.
If USD/JPY buyers push prices above the September 26 high at 145.21, that could prompt a challenge of the 50-day moving average (DMA) at 146.49 before testing the 147.00 mark. The next resistance would be the bottom of the Ichimoku Cloud (Kumo) at around 148.20-50.
Conversely, if the pair slumps below the September 26 low of 144.11, that will test the Kijun-Sen at 143.39, followed by the Senkou Span A at 142.89. On further weakness, the Tenkan-Sen will be the Bulls' last line of defense at 142.39.
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 | -0.38% | -0.65% | 0.01% | -0.06% | -1.00% | -1.00% | -0.51% | |
EUR | 0.38% | -0.28% | 0.39% | 0.32% | -0.62% | -0.62% | -0.13% | |
GBP | 0.65% | 0.28% | 0.66% | 0.60% | -0.34% | -0.36% | 0.15% | |
JPY | -0.01% | -0.39% | -0.66% | -0.06% | -1.02% | -1.02% | -0.53% | |
CAD | 0.06% | -0.32% | -0.60% | 0.06% | -0.93% | -0.94% | -0.44% | |
AUD | 1.00% | 0.62% | 0.34% | 1.02% | 0.93% | 0.00% | 0.50% | |
NZD | 1.00% | 0.62% | 0.36% | 1.02% | 0.94% | -0.00% | 0.50% | |
CHF | 0.51% | 0.13% | -0.15% | 0.53% | 0.44% | -0.50% | -0.50% |
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
: 2024.09.27
Last updated
: 2024.09.27
FXStreet is a forex information website, delivering market analysis and news articles 24/7.
It features a number of articles contributed by well-known analysts, in addition to the ones by its editorial team.
Founded in 2000 by Francesc Riverola, a Spanish economist, it has grown to become a world-renowned information website.
We hope you find this article useful. Any comments or suggestions will be greatly appreciated.
We are also looking for writers with extensive experience in forex and crypto to join us.
please contact us at [email protected].
Disclaimer:
All information and content provided on this website is provided for informational purposes only and is not intended to solicit any investment. Although all efforts are made in order to ensure that the information is correct, no guarantee is provided for the accuracy of any content on this website. Any decision made shall be the responsibility of the investor and Myforex does not take any responsibility whatsoever regarding the use of any information provided herein.
The content provided on this website belongs to Myforex and, where stated, the relevant licensors. All rights are reserved by Myforex and the relevant licensors, and no content of this website, whether in full or in part, shall be copied or displayed elsewhere without the explicit written permission of the relevant copyright holder. If you wish to use any part of the content provided on this website, please ensure that you contact Myforex.
Myforex uses cookies to improve the convenience and functionality of this website. This website may include cookies not only by us but also by third parties (advertisers, log analysts, etc.) for the purpose of tracking the activities of users. Cookie policy