USDJPY falls below 150.00, with a focus on US Consumer Sentiment
The USDJPY is attempting to end its three-day winning run, trading at 149.80 during the Asian session on Friday, aligned with the significant support level of 150.00. The pair gained strength as a result of a spate of positive economic data from the United States (US).
A strong break above the level might help the yen explore the area around the monthly high of 150.16, followed by the psychological milestone of 150.50.
On the downside, the USDJPY pair may find support. The 21-day Exponential Moving Average (EMA) at 148.71 provides support at the psychological threshold of 149.00.
Following the 23.6% Fibonacci retracement at the 147.11 level, a solid breach below the level might put pressure on the pair to navigate the zone around the 148.00 level.
USDJPY Technical Outlook
The USDJPY technical analysis displays an intriguing dynamic. When the Moving Average Convergence Divergence (MACD) line is above the centerline, it shows that the short-term average is higher than the long-term average.
However, there is a noteworthy change since the line is now below the signal line, indicating a shift in momentum toward a bearish trend.
The USDJPY pair, on the other hand, retains a dominant positive momentum, indicating a greater bias. This is seen by the 14-day Relative Strength Index (RSI) remaining above 50. the 50 mark, indicating that the pair maintains its strength and remains in bullish zone.
