USD/JPY weakens despite strong US NFP as intervention risks cap gains
USD/JPY trades sideways before US jobs report with intervention risks in focus
Looking at the 4-hour chart, the pair cleared the 50% Fib retracement level of the downward move from the 160.46 swing high to the 158.27 low. The pair is now well above the 100 simple moving average (red, 4-hour) and the 200 simple moving average (green, 4-hour).
USD/JPY sits below 160.00 as Tokyo's intervention threat collides with Friday's NFP
We're nearing a unique day for markets tomorrow as the Non-farm Payrolls report is set to be released on a holiday when many major exchanges are closed. This in and of itself can lead to volatile conditions as thin liquidity meets motivation from the headlines, but we also have the brewing conflict in the Middle East to consider as that adds another very unpredictable layer to the drama.
USD/JPY holds gains as Trump escalates Iran war, Hormuz headlines cap upside
The American currency gained ground as President Trump indicated that U.S. will continue the operation against Iran.
USD/JPY rose to 159.39 on Thursday, as the yen weakened amid conflicting signals from Donald Trump on a possible de-escalation of the Middle East conflict. The situation continues to support the US dollar while weighing on the yen.
The pair hit a correction towards the target and support of 157.25-65 and managed to rebound again. The market is still holding a trading zone with resistances around 160.20 and 161.95 where each resistance could push for drop a toward the 157.25-65 zone.
USD/JPY Price Forecast: Recovers from 20-day EMA as US Dollar's safe-haven demand revives
USD/JPY is one of the most reactive pairs to broader geopolitical movements and technical patterns, remaining one of the most favored major currency pairs in FX trading.
USD/JPY drifts near 159.00 as ceasefire hopes and Tokyo warnings collide