Technical Analysis: USDJPY

USDJPY increased steadily

On Wednesday, USDJPY increased steadily after falling for three consecutive trading days. It ended up 0.99% at 143.82.

The USDX was boosted

On Wednesday, as the Fed kept the interest rate unchanged, and the Fed Governor Powell reiterated his willingness to take actions after the outlook is clear, the USDX was boosted. It ended up 0.47% at 99.86.

Downside risks to Japan’s economy rose

As America’s tariff policies caused more uncertainty, downside risks to Japan’s economy rose, according to the meeting minutes from the Bank of Japan.

The bullish market trend prevailed in the short term

the Chart of the Day

On the chart of the day, USDJPY climbed steadily. It is more likely to rebound in the short term. In terms of technical indicators, MACD went upwards after golden cross occurred, showing that USDJPY will rise further. Investors should focus on whether USDJPY will break through the resistance at 145.00. It will rise further with potential resistance at 145.90 if it breaks above 145.0.

4-hour chart

On the 4-hour chart, USDJPY was prone to fluctuation and climbed. The bullish market trend prevailed. In terms of technical indicators, KDJ went upwards after golden cross occurred, showing that the market trend is bullish. Investors should focus on whether USDJPY will break through the support at 143.30. It will climb further if it retreats but is stable above 143.30.

Key resistance: 145.00,145.90

Key support: 143.30,142.35

Generally speaking, USDJPY is more likely to rise further in the short term. Investors should focus on US economic data during the day.