The extended its gains late on Friday’s North American session, though it’s set to finish the week unchanged. The major trades at 155.66, up 0.18% after hitting a daily low of 155.25. USD/JPY Price Analysis: Technical outlookDespite the conditions to extend their gains, traders should be aware of the Japanese authority’s intervention threats. That said, the USD/JPY uptrend remains intact as long as price action achieves two goals: persisting above the Ichimoku Cloud (Kumo) and staying above the uptrend trendline drawn from the January 2024 lows.The Relative Strength Index (RSI) favors buyers, standing above the 50-midline with enough room to spare before reaching overbought territory.Therefore, the path of least resistance is upwards. The first resistance would be the Kijun-Sen at 156.05. Once cleared, the next stop would be 157.00, followed by the April 26 high of 158.44, ahead of challenging the year-to-date (YTD) high at 160.32.On the flip side, if USD/JPY drops below the Senkou Span A of 155.69, the pair could be headed towards retesting lower support levels. Bulls’ first line of defense would be the Tenkan-Sen at 155.18, followed by 155.00. Once hurdled, the next stop would be the May 16 low of 153.60, followed by the Sekou Span B at 153.06. USD/JPY Price Action – Daily Chart(Click on image to enlarge) USD/JPY
JAPANESE YEN PRICE TODAYThe table below shows the percentage change of Japanese Yen (JPY) against listed major currencies today. Japanese Yen was the strongest against the Swiss Franc.
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