- Analytics
- News and Tools
- Market News
- USD/JPY Price Analysis: 50-DMA defends buyers above 113.00
USD/JPY Price Analysis: 50-DMA defends buyers above 113.00
- USD/JPY struggles around two-week low after dropping the most since March 2020.
- 50-DMA, previous resistance line from March restrict short-term downside.
- October’s top acts as extra upside filter ahead of the latest multi-month peak.
USD/JPY remains pressured around a 13-day-low, reversing the early Asian rebound ahead of Monday’s European session.
The yen pair sellers cheered broad risk-off mood the previous day to break an ascending support line from late September, now resistance around 114.00.
The downside, however, witnesses a steady RSI line and the 50-DMA level near 113.15 as immediate challenges to tackle.
Even if the USD/JPY sellers break 113.15 DMA support, the resistance-turned-support line from March 2021, close to 112.80, will precede September’s peak of 112.00 to challenge the pair’s further weakness.
Alternatively, a clear upside break of the immediate resistance line, previous support around 114.10, will direct USD/JPY bulls towards the last month’s high surrounding 114.70.
Should the pair buyers keep reins past 114.40, the 115.00 threshold and the recent high near 115.50 can test the advances.
USD/JPY: Daily chart
Trend: Recovery moves expected
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
