Friday, October 16, 2026

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FxWirePro: USD/JPY trades a narrow range, finds stiff resistance at 111.35

USD/JPY has been trading a narrow range in the Asian session. Volumes also low amid a National holiday in Japan. The pair has been struggling to get past stiff resistance at 111.35 since the beginning of the week. Techni…

By FxWirePro Team
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FxWirePro: USD/JPY trades a narrow range, finds stiff resistance at 111.35
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  • USD/JPY has been trading a narrow range in the Asian session. Volumes also low amid a National holiday in Japan.
     
  • The pair has been struggling to get past stiff resistance at 111.35 since the beginning of the week.
     
  • Technical studies support upside in the pair, momentum studies are bullish. Close below 5-DMA support at 110.75 could see further downside.
     
  • Markets cautious ahead of the US durable goods data and FOMC minutes due later in the NA session today.
     
  • Major support level - 110.75 (5-DMA), 110, 109, 108.40 (23.6% Fib)
     
  • Major resistance level - 111.36 (May 31 high), 111.88 (May 25 & 28 high)
     
  • FxWirePro's Hourly USD Spot Index was at -30.045 (Neutral), while Hourly JPY Spot Index was at -91.8311 (Slightly bearish) at 0700 GMT. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex 
     

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By FxWirePro Team