USD/JPY retakes 137.00 mark amid modest USD strength, rising US bond yields

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Breaks above Kumo, buyers target 157.00 – Crypto News

Published

2 years ago

June 9, 2024

Dripp

USD/JPY climbs above 156.50 as buyers push prices above Ichimoku Cloud.
Resistance at June 4 high (156.48), 157.00, April 26 high (158.44), and YTD high (160.32).
Supports at Senkou Span A and B (155.52/45), 50-DMA (154.98), and Ichimoku Cloud base (153.40/50).

The USD/JPY registered modest gains of 0.66% on Friday after a stronger-than-expected US employment report, which decreased the chances that the US Federal Reserve could ease policy during the year. Therefore, the pair trades at 156.64 after bouncing off lows of 155.12.

USD/JPY Price Analysis: Technical outlook

From a daily chart perspective, the USD/JPY continues to remain consolidated, slightly tilted to the upside. The pair climbed above the Ichimoku Cloud (Kumo), an indication of buyers’ strength.

Momentum turned bullish, yet the pair could see an increase in volatility due to threats of intervention by Japanese authorities.

Once the USD/JPY cleared the June 4 high of 156.48, that could sponsor a leg-up toward 157.00. On further strength, the next supply zone would be the April 26 high of 158.44, followed by the year-to-date (YTD) high of 160.32.

Conversely, if USD/JPY tumbles below 156.00, the first support would be the confluence of the Senkou Span A and B at around 155.52/45, before testing the 50-day moving average (DMA) at 154.98. A breach of the latter will expose the bottom of the Ichimoku Cloud (Kumo) at around 153.40/50.

USD/JPY Price Action – Daily Chart

Japanese Yen PRICE Today

The table below shows the percentage change of Japanese Yen (JPY) against listed major currencies today. Japanese Yen was the strongest against the New Zealand Dollar.

	USD	EUR	GBP	JPY	CAD	AUD	NZD	CHF
USD		0.82%	0.53%	0.67%	0.62%	1.27%	1.47%	0.81%
EUR	-0.82%		-0.27%	-0.14%	-0.19%	0.46%	0.72%	0.01%
GBP	-0.53%	0.27%		0.14%	0.08%	0.74%	0.99%	0.27%
JPY	-0.67%	0.14%	-0.14%		-0.05%	0.59%	0.81%	0.15%
CAD	-0.62%	0.19%	-0.08%	0.05%		0.65%	0.92%	0.19%
AUD	-1.27%	-0.46%	-0.74%	-0.59%	-0.65%		0.25%	-0.48%
NZD	-1.47%	-0.72%	-0.99%	-0.81%	-0.92%	-0.25%		-0.71%
CHF	-0.81%	-0.01%	-0.27%	-0.15%	-0.19%	0.48%	0.71%

The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the Japanese Yen from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent JPY (base)/USD (quote).