USD/JPY Price Analysis: Extends Gains But Remains Below 156.00 JAPANESE YEN PRICE TODAY -

USD/JPY Price Analysis: Extends Gains But Remains Below 156.00 JAPANESE YEN PRICE TODAY

May 18, 2024Jeremy ParkinsonFinance0

The USD/JPY extended its gains late on Friday’s North American session, though it’s set to finish the week unchanged. The major trades at 155.66, up 0.18% after hitting a daily low of 155.25. USD/JPY Price Analysis: Technical outlookDespite the conditions to extend their gains, traders should be aware of the Japanese authority’s intervention threats. That said, the USD/JPY uptrend remains intact as long as price action achieves two goals: persisting above the Ichimoku Cloud (Kumo) and staying above the uptrend trendline drawn from the January 2024 lows.The Relative Strength Index (RSI) favors buyers, standing above the 50-midline with enough room to spare before reaching overbought territory.Therefore, the path of least resistance is upwards. The first resistance would be the Kijun-Sen at 156.05. Once cleared, the next stop would be 157.00, followed by the April 26 high of 158.44, ahead of challenging the year-to-date (YTD) high at 160.32.On the flip side, if USD/JPY drops below the Senkou Span A of 155.69, the pair could be headed towards retesting lower support levels. Bulls’ first line of defense would be the Tenkan-Sen at 155.18, followed by 155.00. Once hurdled, the next stop would be the May 16 low of 153.60, followed by the Sekou Span B at 153.06. USD/JPY Price Action – Daily Chart USD/JPY

OVERVIEW Today last price 155.69 Today Daily Change 0.30 Today Daily Change % 0.19 Today daily open 155.39

TRENDS Daily SMA20 155.37 Daily SMA50 152.9 Daily SMA100 150.36 Daily SMA200 148.98

LEVELS Previous Daily High 155.54 Previous Daily Low 153.6 Previous Weekly High 155.95 Previous Weekly Low 152.8 Previous Monthly High 160.32 Previous Monthly Low 150.81 Daily Fibonacci 38.2% 154.8 Daily Fibonacci 61.8% 154.34 Daily Pivot Point S1 154.15 Daily Pivot Point S2 152.91 Daily Pivot Point S3 152.21 Daily Pivot Point R1 156.08 Daily Pivot Point R2 156.78 Daily Pivot Point R3 158.02

JAPANESE YEN PRICE TODAYThe table below shows the percentage change of Japanese Yen (JPY) against listed major currencies today. Japanese Yen was the strongest against the Swiss Franc.

USD EUR GBP JPY CAD AUD NZD CHF USD -0.02% -0.25% 0.19% -0.04% -0.24% -0.23% 0.30% EUR 0.02% -0.24% 0.22% -0.01% -0.20% -0.19% 0.30% GBP 0.25% 0.24% 0.44% 0.22% 0.04% 0.03% 0.53% JPY -0.19% -0.22% -0.44% -0.26% -0.43% -0.45% 0.09% CAD 0.04% 0.01% -0.22% 0.26% -0.19% -0.18% 0.33% AUD 0.24% 0.20% -0.04% 0.43% 0.19% 0.00% 0.51% NZD 0.23% 0.19% -0.03% 0.45% 0.18% -0.01% 0.51% CHF -0.30% -0.30% -0.53% -0.09% -0.33% -0.51% -0.51%

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