Thursday, October 15, 2026

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FxWirePro: USD/JPY at a near-term top, upside stalls at 110.38 highs

USD/JPY trades a narrow 22 pip range in the Asian session. Pair is likely approaching a near-term top. USD/JPY pair declined from highs near 110.38 on Thursday following negative Philadelphia Fed Manufacturing Index in t…

By FxWire Pro
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FxWirePro: USD/JPY at a near-term top, upside stalls at 110.38 highs
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  • USD/JPY trades a narrow 22 pip range in the Asian session. Pair is likely approaching a near-term top.
     
  • USD/JPY pair declined from highs near 110.38 on Thursday following negative Philadelphia Fed Manufacturing Index in the early US session.
     
  • The pair finds stiff resistance at the 110.50-60 zone, which is a combination of 55-EMA (110.51), major trendline (110.50) and cloud base (110.57).
     
  • Technical indicators on weekly charts support upside in the pair. Break above 110.60 will see gains upto 111.80.
     
  • 5-DMA at 109.67 is strong support on the downside, breaks below can see weakness upto 108.80 levels.
     
  • G7 summit, sales tax decision, and other policy initiatives are significant drivers for the JPY in the period ahead.
     

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