Alpari Market Analysis

Daily Market Analysis and Forex News

USDJPY jumps above 150 following the BoJ’s interest rate decision

USDJPY jumps above 150 following the BoJ’s interest rate decision


USDJPY is currently trading at 150.086, hovering near a key support level of 149.934.

While three key moving averages (21,50 & 100-period SMAs) underscore a bullish momentum, momentum indicators may suggest a more cautious outlook.

The price is currently trading above the 21-period, 50-period, and 100-period moving averages, indicating an upward trend.

The key support level is located at 149.934. A break below this level could drag the FX pair lower towards the next support level at 21-period SMA.

The 14-day Relative Strength Index (RSI) sits in neutral territory (59.35).

The MACD (-0.0108) is slightly positive compared to its signal line (-0.0639), indicating some bullish momentum, but the closeness of the lines may suggest weakness.

The Bloomberg FX model suggests a 74.9% probability for the USDJPY to trade between 148.080 and 151.720 during the next 7 days, which aligns with the current price action.

Overall, the technical analysis for USDJPY presents a mixed picture. The price action on the moving averages suggests an upward bias, but the momentum indicators do not offer enough support.

A break above the Bloomberg FX upper boundary (151.720) could indicate a continuation of the uptrend, while a drop below support (149.934) might signal a potential move towards the lower boundary (148.080).
 

polygon

هل تريد ممارسة بعض التداول؟

اقرأ أكثر

هل أنت مستعد للتداول بأموال حقيقية؟

افتح حساب
Join us

Gateway to global opportunity

Join more than 1 million traders worldwide using Alpari as a gateway to a better life.