Today
+0.05%
5 Days
+0.11%
1 Month
+0.38%
6 Months
+1.41%
Year to Date
+1.39%
1 Year
+3.08%
Opening Price
158.793Previous Closing Price
158.798
The upside prevails as long as 158.50 is support, with 159.09 and 159.24 as targets
below 158.50, expect 158.25 and 158.10.
The upside prevails as long as 158.50 is support, with 159.09 and 159.24 as targets
The Japanese Yen (JPY) trades weakly against the US Dollar (USD) on Wednesday, with the USD/JPY pair hovering near its almost seven-week high of around 159.00.
USD/JPY extends its gains for the second successive day, trading around 158.90 during Asian hours on Wednesday. The pair gained ground as the US Dollar (USD) received firm support following the latest inflation report, which cemented market expectations for a Federal Reserve rate hike in December.
New US 10-year notes sold on Tuesday pay 5% a year, the most since 2006, and the Yen has dropped to its weakest against the Dollar since mid-October. The Dollar rose to just under 159.00 Yen, more than reversing Monday's drop and moving back above Friday's close.
USD/JPY strengthens on Tuesday as stronger-than-expected US inflation and hawkish remarks from Federal Reserve (Fed) officials lift demand for the US Dollar (USD). At the time of writing, the pair trades around 158.76, up 0.55% on the day.
ING's Chris Turner flags Japan as a potential positive growth surprise that could weigh on USD/JPY. Turner notes South Korea’s chip-led upswing and upgraded GDP forecasts as a template, with Japan supplying key manufacturing equipment and benefiting from loose fiscal policy.
The USD/JPY pair posts modest gains near 157.95 during the early European trading hours on Tuesday. A hawkish stance from the Bank of Japan (BoJ) might cap the upside for the pair. Traders remain on high alert for currency intervention from Japanese authorities.
The Indicators feature provides value and direction analysis for various instruments under a selection of technical indicators, together with a technical summary.
This feature includes nine of the commonly used technical indicators: MACD, RSI, KDJ, StochRSI, ATR, CCI, WR, TRIX and MA. You may also adjust the timeframe depending on your needs.
Please note that technical analysis is only part of investment reference, and there is no absolute standard for using numerical values to assess direction. The results are for reference only, and we are not responsible for the accuracy of the indicator calculations and summaries.