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FxWirePro: USD/JPY extends sideways, US GDP/Jobless Claims awaited for impetus

Chart - Courtesy Trading View 

USD/JPY was trading 0.41% higher on the day at 144.71 at around 10:30 GMT.

The major is extending sideways grind for the fourth straight session, hovers around 5-DMA.

A pickup in the US Treasury bond yields, bolstered by faster Fed rate hikes bets, acts as a tailwind for the greenback.

The risk-off impulse amid growing worries about a deeper global economic downturn also underpins the safe-haven buck.

Focus now on the release of the final Q2 GDP report and the usual Weekly Initial Jobless Claims data for impetus.

Major Support Levels: 

S1: 144.33 (5-DMA)

S2: 143.80 (200H MA)

Major Resistance Levels: 

R1: 145

R2: 145.72 (Upper BB)

Summary: USD/JPY shows signs of some pullback. Bearish RSI divergence and shrinking volatility raise scope for some downside. Major trend remains bullish. 

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