- Analytics
- News and Tools
- Market News
- USD/JPY Price Analysis: Bears eye a run to 135.50
USD/JPY Price Analysis: Bears eye a run to 135.50
- USD/JPY bulls are keeping the price elevated above key 135.80-70 structure.
- Bears eye 135.50 in the near term on a break of hourly trendline support.
Despite being broadly softer at the start of the week across a basket of currencies, the US Dollar was up 0.24% against the Yen in midday trade on Wall Street. USDJPY is currently trading at 136.05 and has moved between a low of 135.62 and a high of 136.32.
The US Dollar index, DXY, fell to a low of 102.382 on the day and was down from 102.752, a five-week high, pressured by a weak manufacturing index in New York state and amid fears about the debt ceiling and the US economy. This falls into the hands of the Yen and tallies with the following technical analysis:
USD/JPY daily charts
The W-formation is a bearish feature on the daily chart that could equate to a downside correction of the latest bullish impùlse from the resistance area as highlighted in the charts above.
USD/JPY H4 chart
The 4-hour chart sees support coming in near 135.70 and 135.50 ahead of 135.00 and 134.80.
USD/JPY H1 chart
The bears will need to get below the hourly chart´s support structure and 135.80-70.
© 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
