Key Highlights
- USD/JPY remained stable and climbed above 148.00.
- A few key supports are forming near 147.80 and 147.50 on the 4-hour chart.
- Gold surged toward $3,575 before it faced some resistance.
- WTI Crude Oil prices trimmed gains and traded below $65.00.
USD/JPY Technical Analysis
The US Dollar started a fresh increase from 146.65 against the Japanese Yen. USD/JPY surpassed the 147.50 and 148.00 resistance levels.
Looking at the 4-hour chart, the pair settled above the 100 simple moving average (red, 4-hour) and the 200 simple moving average (green, 4-hour). The pair even spiked above 148.80 before there was a pullback.
The pair dipped below 148.20 and tested the 50% Fib retracement level of the upward move from the 146.65 swing low to the 149.13 high. However, the bulls were active near 148.00.
USD/JPY is again rising and faces resistance near 148.80. The next key hurdle sits at 149.20. A close above 149.20 could set the pace for another increase. In the stated case, the pair could rise toward 150.00, above which the bulls could aim for a move toward 151.20. Any more upsides could send the pair toward 152.00.
On the downside, immediate support is 148.00. The next key area of interest might be 147.90. Any more losses could send the pair toward the 61.8% Fib retracement level of the upward move from the 146.65 swing low to the 149.13 high at 147.60 and the 100 simple moving average (red, 4-hour).
Looking at Gold, the bulls remain in action as they were able to push the price above the $3,550 resistance zone.
Upcoming Key Economic Events:
- US Unemployment Rate for August 2025 – Forecast 4.3%, versus 4.2% previous.
- US nonfarm payrolls for August 2025 – Forecast 75K, versus 73K previous.
