Friday, October 16, 2026

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FxWirePro: USD/JPY edges lower from fresh weekly high at 109.55, weakness only below 5-DMA at 108.65

USD/JPY has scored a high of 109.54 as the greenback strong across the board. Fed speakers were optimistic and more hawkish yesterday, relieving the dollar from the post Yellen New York speech. Risk and commodities have …

By FxWire Pro
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FxWirePro: USD/JPY edges lower from fresh weekly high at 109.55, weakness only below 5-DMA at 108.65
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  • USD/JPY has scored a high of 109.54 as the greenback strong across the board. 
     
  • Fed speakers were optimistic and more hawkish yesterday, relieving the dollar from the post Yellen New York speech. 
     
  • Risk and commodities have bounced back as well, we see scope for some further recovery in the major. 
     
  • Our previous call (http://www.econotimes.com/FxWirePro-USD-JPY-extends-rally-for-the-second-straight-session-markets-cheer-stronger-Chinese-exports-data-193835) has almost hit targets. 
     
  • The pair has hit highs of 109.54 early in the Asian session and has pared some gains to currently trade at 109.42 levels.
     
  • Immediate resistance and supports are located at 109.44 (10-DMA) and 108.65 (5-DMA) respectively.
     
  • We advise booking partial profits, break above 109.70 could see test of 109.90 and then 110 levels.
     

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