The USD/JPY consolidates at around last week's lows yet trades with minuscule gains of 0.18% amid lower US Treasury yields and a risk-on impulse.
USD/JPY trades with 0.18% gains, consolidating above 154.00 amid bearish momentum. Technical outlook shows bearish bias with first support at 154.00 and next at 153.00. Resistance seen at 154.74; a climb above could trigger a rally to 155.00 and beyond. The USD/JPY consolidates at around last week's lows yet trades with minuscule gains of 0.18% amid lower US Treasury yields and a risk-on impulse. The Greenback strengthens due to month-end flows, while the major clings above the 154.
Once those levels are cleared, the next demand zone would be an upslope support trendline drawn from the beginning of 2023 that passes at around 149.00-150.00. Conversely, if USD/JPY climbs above last Friday’s peak of 154.74, that will exacerbate a rally to 155.00. Further gains lie overhead, at around the Tenkan-Sen at 155.27. USD/JPY Price Action – Daily Chart Japanese Yen PRICE Today The table below shows the percentage change of Japanese Yen against listed major currencies today.
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