Market Analytics and Technical Considerations
The Japanese yen strengthens during the American session as US rates decline.
While jobless claims are at monthly peaks, durable goods orders outperform forecasts in the US.
USD/JPY continues to decline from above 142.00, aiming towards 140.50/60.
In advance of additional US data and the FOMC minutes on Wednesday, the USD/JPY is declining for the second straight day. After reaching the highest level over 142.00 in the past couple weeks on Monday, the pair has since started to decline. The pair lately made a new daily low at 140.50, and it is still close to the lows with a bearish tilt.
USD/JPY is currently near at 140.306
On Wednesday, the price of the dollar fell below the 4 chart’s 20-Simple Moving Average, worsening its outlook. The USD/JPY is still above the crucial support zone of 140.50–60. A lower break would suggest further declines.
The dollar might gain strength if the pair is able to hold above 140.50. On the upside, 141.50 and 142.05/10 act as the first and second resistance levels.
Yen rising as US rates decline
The US economy’s economic data revealed a larger-than-anticipated rise in unemployment claims and an above-anticipated increase in orders for durable goods. After the data, the Dollar decreased.
The preliminary PMI S&P Global for November is the next event on the calendar. The Federal Reserve will later release the minutes of its most recent meeting during the second period of the American session. Participants in the market would seek for hints regarding the Fed’s upcoming moves. On December 13 and 14, the FOMC will meet again. Recent remarks from Fed officials call for another rate increase, though it might be less than 75 basis points.
The Japanese yen is being supported globally by decreasing US bond rates, which are falling ahead of data and minutes but unaffected by riskiness. The Dow Jones and Nasdaq are increasing on Wall Street up 0.25% and 0.16%, respectively.
Important Technical levels
USD/JPY
|
Today last price |
140.76 |
|
Today Daily Change |
-0.45 |
|
Today Daily Change % |
-0.32 |
|
Today daily open |
141.21 |
|
TRENDS |
|
|
Daily SMA20 |
144.03 |
|
Daily SMA50 |
145.01 |
|
Daily SMA100 |
141.08 |
|
Daily SMA200 |
133.6 |
|
LEVELS |
|
|
Previous Daily High |
142.24 |
|
Previous Daily Low |
141.08 |
|
Previous Weekly High |
140.8 |
|
Previous Weekly Low |
137.67 |
|
Previous Monthly High |
151.94 |
|
Previous Monthly Low |
143.53 |
|
Daily Fibonacci 38.2% |
141.53 |
|
Daily Fibonacci 61.8% |
141.8 |
|
Daily Pivot Point S1 |
140.78 |
|
Daily Pivot Point S2 |
140.35 |
|
Daily Pivot Point S3 |
139.62 |
|
Daily Pivot Point R1 |
141.94 |
|
Daily Pivot Point R2 |
142.67 |
|
Daily Pivot Point R3 |
143.1 |
