- Analytics
- News and Tools
- Market News
- USD/JPY Price Analysis: Retreats from yearly highs above 150.00
USD/JPY Price Analysis: Retreats from yearly highs above 150.00
- USD/JPY dips below 150.00 after peaking at 150.86, forming an 'evening star' pattern.
- RSI suggests bullish momentum waning, with potential support and intervention points identified.
- Reclaiming 150.00 could challenge higher levels, with 151.00 and 151.91 as key targets.
The USD/JPY retreats after hitting a yearly high of 150.86 and tumbles below the 150.00 figure, courtesy of Japanese authorities' verbal intervention in the FX markets. At the time of writing, the pair is forming an ‘evening star’ and trades at 149.95, down 0.42%.
The USD/JPY seems to have peaked at around 150.00, which could open the door for speculations of intervention. The Relative Strength Index (RSI) depicts the pair as bullish, but a downward slope indicates that buyers are losing momentum. If sellers push prices below the Tenkan-Sen level at 149.25, the first line of defense for bulls would be 149.00. A breach of the latter will expose the Senkou Span A at 148.43 before diving to 148.00.
On the flip side, if buyers regain the 150.00 mark, that could pave the way for challenging the 151.00 mark, followed by last year’s high at 151.91.
USD/JPY Price Action – Daily Chart
© 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
