Thursday, October 15, 2026

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FxWirePro: USD/JPY consolidates break above 100-DMA, upside struggles to gain momentum

USD/JPY extends consolidation after break above 100-DMA resistance. Upside struggling to gain momentum, techs, however, support upside. We see weakness only on break below 100-DMA at 103.23. BOJ's Governor Kuroda was on …

By FxWirePro Team
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FxWirePro: USD/JPY consolidates break above 100-DMA, upside struggles to gain momentum
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  • USD/JPY extends consolidation after break above 100-DMA resistance.
     
  • Upside struggling to gain momentum, techs, however, support upside.
     
  • We see weakness only on break below 100-DMA at 103.23.
     
  • BOJ's Governor Kuroda was on the wires, noting that Japan's CPI is likely to be slightly negative or around zero % for the time being. 
     
  • Also, downward revision of Japan's industrial production data for the month of August to further help support upside in the pair.
     
  • Breakout of range trade will see upside gain traction, next major hurdle on the upside aligns at 105.75 (trendline).
     
  • Major support levels - 103.94 (5-DMA), 103.23 (100-DMA), 103, 102.85 (Oct 7 low)
     
  • Major resistance levels - 104.63 (Oct 13 high), 105, 105.60 (July 29 high)
     
  • Our previous call (http://www.econotimes.com/FxWirePro-USD-JPY-retakes-104-handle-intraday-bias-higher-348704) is progressing.
     
  • Recommend holding for targets.
     

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By FxWirePro Team