USD/JPY chart - Trading View
USD/JPY has erased early losses and was trading at 106.22 at around 02:15 GMT.
The major has edged higher from session lows at 105.99 as US dollar resumed bids amid hopes of an economic restart.
US President Trump recently pushed harder on post-crisis economic restoration while winding down the coronavirus (COVID-19) task force team.
Also market’s risk-off tone amid souring U.S.-China trade relations is likely to weigh on the pair.
Technical studies support weakness in the pair with major and minor trend being strongly bearish.
Price action is extending weakness below daily cloud and 'Death Cross' adds to the bearish bias.
5-DMA caps upside at 106.48. Volatility is rising and momentum with the bears. Scope for dip till 61.8% Fib at 105.20.
On the flipside, 21-EMA is major resistance at 107.18. Decisive break above could negate near-term bearish bias.
On the economic calendar, U.S Jobless claims (12:30 GMT) and Japan overall Household Spending (23:30 GMT) will be watched for impetus.
Major Support Levels: 106, 105.20 (61.8% Fib), 103.97 (200M SMA)
Major Resistance Levels: 106.48 (5-DMA), 107.18 (21-EMA), 107.85 (55-EMA)
Summary: Upside lacks traction. Near-term trend reversal only above 21-EMA. Scope for further weakness.


Geopolitical Shocks That Could Reshape Financial Markets in 2025
Indonesia Surprises Markets with Interest Rate Cut Amid Currency Pressure
FxWirePro: GBP/NZD outlook weaker on renewed downside pressure
UBS Projects Mixed Market Outlook for 2025 Amid Trump Policy Uncertainty
Stock Futures Dip as Investors Await Key Payrolls Data
FxWirePro: NZD/USD consolidating around 0.6030 , bias is bullish
Global Markets React to Strong U.S. Jobs Data and Rising Yields
Fed May Resume Rate Hikes: BofA Analysts Outline Key Scenarios
Goldman Predicts 50% Odds of 10% U.S. Tariff on Copper by Q1 Close
FxWirePro: GBP/USD regains upwards momentum but unable to hold above 1.3700 level
FxWirePro: GBP/AUD extends losses after RBA rate hike
China’s Growth Faces Structural Challenges Amid Doubts Over Data
US Futures Rise as Investors Eye Earnings, Inflation Data, and Wildfire Impacts
Moldova Criticizes Russia Amid Transdniestria Energy Crisis
Wall Street Analysts Weigh in on Latest NFP Data
Moody's Upgrades Argentina's Credit Rating Amid Economic Reforms
FxWirePro-Major European Indices 



