Dolar A.S. / Yen JepunPanjang
USD/JPY: Mild Sideway Uptrend Awaiting New Momentum
The USD/JPY pair remains stable around the 158.00 level, reflecting the market’s cautious sentiment ahead of the U.S. NFP data. The 2-hour chart illustrates a sideways range with a slight upward trend, with the nearest resistance at 158.55 and support at 157.66. The EMA 34 and EMA 89 continue to stay below the price, acting as “dynamic support” for the pair.
Higher U.S. bond yields compared to Japan continue to support the USD/JPY, but fluctuating rate expectations from the BoJ and weaker household spending data from Japan have dampened the bullish momentum. If the price breaks above the 158.55 resistance, the pair could test the 158.80 level—a potential new high. Conversely, a break below the 157.66 support could push the USD/JPY down toward the 157.00 region.
The market currently feels like a “calm before the storm,” with all eyes on the upcoming NFP data. This will be the key factor in determining whether the pair continues its upward trajectory or faces a sharper downward correction. Traders need to closely monitor signals and data to make informed decisions.
Higher U.S. bond yields compared to Japan continue to support the USD/JPY, but fluctuating rate expectations from the BoJ and weaker household spending data from Japan have dampened the bullish momentum. If the price breaks above the 158.55 resistance, the pair could test the 158.80 level—a potential new high. Conversely, a break below the 157.66 support could push the USD/JPY down toward the 157.00 region.
The market currently feels like a “calm before the storm,” with all eyes on the upcoming NFP data. This will be the key factor in determining whether the pair continues its upward trajectory or faces a sharper downward correction. Traders need to closely monitor signals and data to make informed decisions.
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