Back to Blog

Technical Analysis of USD/JPY

The Japanese yen is the strongest performer against the US as the bout of risk aversion that sweeps across global equity markets props up both the yen and the greenback. With BoJ holding interest rate unchanged and given the broader shift to risk aversion, the USD/JPY fell sharply on Wednesday below the 80.00 area. With the MACD signal line holding below zero and the RSI unable to cross above 50 since mid-April on the daily chart, the technicals indicate that there is more room for downside movement. The selling bias is further supported by the bearish alignment of the 20 EMA below the 50 EMA that has been in place in the past three weeks. As the markets try to digest news from Europe, the pair could go all the way back to February’s intervention levels around 78. It is worth noting though that the pair is still being watched by the BoJ and that a potential expansion of monetary policy could send the USD/JPY back above 82.

Market Analyst
Dafni Serdari
The comment in this blog is the personal opinion of the contributors and not The content does not constitute financial, investment or tax advice. You are advised to discuss your specific requirements with an independent financial adviser prior to entering into any bet. is not responsible and disclaims any and all liability for the content of comments written by contributors to the blog, and the content of any third party sites linked from this blog.

Share this post

Back to Blog

Spread betting and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 78% of retail investor accounts lose money when trading these products with this provider.
You should consider whether you understand how these products work and whether you can afford to take the high risk of losing your money.