Currency Analyst since 2010

USD/JPY: daily update

USD/JPY failed yesterday to close inside the daily Ichimoku Cloud. The pair formed a bearish candle on Monday with spike to 98.75, a level which is now acting as resistance as well as 98.00 and 99.09 (55-day MA). Nikkei 225 stock index went down by 0.72%.

The greenback slid below 97.40 (23.6% Fibo of the advance since September). The next support levels lie at 97.00/96.80 (100-day MA) – there may be some buying interest here, 96.25, 95.65, 95.00, and 94.00.

Focus today will be on US data: durable goods numbers for May, due at 12:30 GMT, Redbook’s weekly retail sales data at 12:55 GMT, S&P Case/Shiller Home Price Index for April at 13:00 GMT and new home sales for May at 14:00 GMT.

Chart. Daily USD/JPY

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