FX.co ★ USD/JPY

USDJPY 2-H Time Frame The USD/JPY bears are favored by the overnight collapse ahead of the crucial 200-day SMA barrier and the subsequent decline below the 148.00 mark. Additionally, the daily charts oscillators have once more begun to move negatively, indicating that the downward path is the least resistance for spot prices. Therefore, some follow-through selling below the 147.00 level will confirm the negative bias and reveal the August swing low, which is located around the 146.20 region, before the pair finally falls below the 146.00 mark. This will be followed by a break of the 146.80-146.70 horizontal support. Conversely, the Asian session high, which is currently in the 147.50-147.55 range, appears to be an immediate barrier. The USD/JPY pair might recover the 148.00 mark if there is a prolonged strength above that level, which would lead to a short-covering action. Though there is a chance that it may swiftly fizzle out close to the 200-day SMA barrier, in the 148.75 zone, the momentum could continue to grow. The 149.00 round figure, the 149.20 level, and the one-month high that was reached last week are in close succession, and if they are cleared, they could tip the short-term bias in favor of bulls. After reaching the critical 150.00 level, spot prices may try to reach the August monthly swing high, which is in the area of 151.00. By September 16, US tariffs on Japanese products, such as automobiles and auto parts, will be reduced. The U.S.-Japan trade agreement was codified, and ambiguities were removed last Thursday when US President Donald Trump signed an executive order. In contrast to the initial estimate of 1.0% growth, the Cabinet Office said on Monday that Japans economy grew at an annualized 2.2% rate during the April-June period compared to the previous quarter. In contrast to the original estimate of a 0.3% gain and a consensus expectation, GDP grew by 0.5% on a quarterly basis.