The USD/JPY jumped above the 157.00 figure on Monday, following last week’s stronger-than-expected employment data.
USD/JPY trades at 157.03, up 0.16%, driven by robust US employment figures. Technical outlook shows bullish momentum with potential gains towards 158.00 and beyond. Key support levels lie around 155.69/52 and 50-DMA at 155.11 if the pair dips below 156.00. Estimates that May’s inflation would likely remain high, with data pending to be released on Wednesday, ahead of the Federal Reserve’s monetary policy decision, drive the Greenback higher. The pair trades at 157.03, up 0.16%.
Further strength might see the pair reaching the April 26 high of 158.44 and then the year-to-date high of 160.32. Conversely, if the USD/JPY falls below 156.00, the first support level would be at the Senkou Span A and B confluence around 155.69/52, followed by the 50-day moving average at 155.11. A breach of this level would expose the bottom of the Ichimoku Cloud around 153.40/50. USD/JPY Price Action – Daily Chart USD/JPY Overview Today last price 157.03 Today Daily Change 0.
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