Created
: 2024.10.17
2024.10.17 05:38
The US Dollar prints solid gains of more than 0.30% against the Japanese Yen after the pair dropped to a two-day low of 148.85, yet buyers bought the dip and push the exchange rate higher. Although US Treasury bond yields dropped, the USD/JPY trades at 149.71, above its opening price.
The daily chart suggests that USD/JPY is on a steady upward trajectory, though it maintains a neutral-to-upward bias. While technical signals indicate that buyers are in control, USD/JPY remains within the Ichimoku Cloud (Kumo), which is limiting its advance. Additionally, despite bullish conditions, the Relative Strength Index (RSI) has failed to surpass its last three peaks, indicating that the uptrend could be overextended.
If USD/JPY rises above 150.00, it could pave the way for a move towards the 100-day moving average (DMA) at 150.98, followed by the 200-DMA at 151.27.
Conversely, if USD/JPY drops below 149.00, the Tenkan-Sen at 147.95 will act as the first support for bulls. If breached, the next key support levels would be the Senkou Span A at 146.48, followed by the 50-DMA at 145.36.
The table below shows the percentage change of Japanese Yen (JPY) against listed major currencies today. Japanese Yen was the strongest against the British Pound.
USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
---|---|---|---|---|---|---|---|---|
USD | 0.31% | 0.67% | 0.30% | -0.18% | 0.56% | 0.43% | 0.37% | |
EUR | -0.31% | 0.37% | 0.02% | -0.46% | 0.26% | 0.14% | 0.02% | |
GBP | -0.67% | -0.37% | -0.37% | -0.82% | -0.10% | -0.23% | -0.29% | |
JPY | -0.30% | -0.02% | 0.37% | -0.45% | 0.26% | 0.16% | 0.10% | |
CAD | 0.18% | 0.46% | 0.82% | 0.45% | 0.72% | 0.59% | 0.54% | |
AUD | -0.56% | -0.26% | 0.10% | -0.26% | -0.72% | -0.13% | -0.18% | |
NZD | -0.43% | -0.14% | 0.23% | -0.16% | -0.59% | 0.13% | -0.06% | |
CHF | -0.37% | -0.02% | 0.29% | -0.10% | -0.54% | 0.18% | 0.06% |
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
: 2024.10.17
Last updated
: 2024.10.17
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