USD/JPY Price Analysis: Drops Below 150.00 As U.S. Yields Weigh On Us Dollar

10 and one 10 us dollar bill

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The USD/JPY is almost flat as Wednesday’s Asian session begins after posting minuscule losses of 0.09% on Tuesday, at the time of writing trades at 149.96. The drop in US Treasury bond yields and a subdued US Dollar (USD) were the two reasons that favored the Japanese Yen (JPY).

The pair has consolidated at around the 149.90-150.00 area for the last three trading sessions, capped on the upside by fears that Japanese authorities might intervene. However, if bulls push prices decisively above 150.00, that will pave the way toward the February 13 high at 150.88, followed by the 151.00 mark.

Conversely, if the USD/JPY tumbles below the Tenkan-Sen at 149.91, that would exacerbate the pair’s fall toward the Senkou Span A area at 149.15 before testing the 149.00 area. A breach of the latter will expose the Kijun-Sen at 148.39, ahead of the 148.00 mark.


USD/JPY Price Action – Daily Chart

(Click on image to enlarge)


USD/JPY TECHNICAL LEVELS

OVERVIEW
Today last price 149.97
Today Daily Change -0.17
Today Daily Change % -0.11
Today daily open 150.14
TRENDS
Daily SMA20 148.65
Daily SMA50 145.91
Daily SMA100 147.57
Daily SMA200 145.43
LEVELS
Previous Daily High 150.28
Previous Daily Low 149.88
Previous Weekly High 150.89
Previous Weekly Low 148.93
Previous Monthly High 148.81
Previous Monthly Low 140.81
Daily Fibonacci 38.2% 150.03
Daily Fibonacci 61.8% 150.12
Daily Pivot Point S1 149.92
Daily Pivot Point S2 149.7
Daily Pivot Point S3 149.52
Daily Pivot Point R1 150.32
Daily Pivot Point R2 150.5
Daily Pivot Point R3 150.72

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Disclosure: Information on this article contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes ...

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