USD/JPY consolidates near 151.20 during the European session on Wednesday, pulling back from the recent yearly high of 151.
USD/JPY could revisit the yearly high at 151.72 on a stronger US Dollar. Key support emerges at 151.00 major level following the 21-day EMA. Technical indicators suggest bullish momentum for the pair. 72 reached on Tuesday. The pair surgedafter the Bank of Japan scrapped the 1% ceiling for the 10-year government bond yield. The immediate support at 151.00 comes into play, with the 21-day Exponential Moving Average at 149.76 serving as the next support level.
The Moving Average Convergence Divergence line's position above the centerline and the signal line suggests a potential bullish momentum. Furthermore, the 14-day Relative Strength Index above the 50 level indicates a favorable market sentiment, supporting the notion of bullish momentum for the USD/JPY pair. On the upside, the USD/JPY could face resistance near the highs marked in October 2022 at 151.94, which is lined up with a 152.00 psychological level.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
USD/JPY retreats from the yearly high, hovers above 151.00USD/JPY trades around 151.20 during the Asian session on Wednesday, pulling back from the yearly high marked after the Bank of Japan (BoJ) removed the 1% ceiling for the 10-year government bond yield on Tuesday.
Read more »
USD/JPY IG Client Sentiment: Our data shows traders are now at their least net-long USD/JPY since Oct 03 when USD/JPY traded near 149.10.Traders are further net-short than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger USD/JPY-bullish contrarian trading bias.
Read more »
Silver Price Analysis: XAG/USD price retreats below $23.00 as double-top loomsSilver price trips down and aims below the $23.00 mark, which was briefly visited by the grey metal and capped by a strong recovery from the Greenback.
Read more »
USD/JPY pinned into the high end near 151.80 after dobish BoJ leaves Yen to flounderThe USD/JPY is inches away from setting a new three-decade high as the pair trades into 151.
Read more »
USD/JPY finds support above the 149.00 mark ahead of BoJ rate decisionThe USD/JPY pair finds support above the 149.00 mark during early Asian trading hours on Tuesday.
Read more »
USD/JPY recovers above 150.00 on BoJ Ueda’s dovish guidance, Fed policy eyedThe USD/JPY pair reclaims 150.00 as the Bank of Japan (BoJ) Governor Kazuo Ueda delivers dovish guidance on monetary policy.
Read more »