Key Highlights
- USD/JPY regained momentum and traded above 153.00.
- A key bullish trend line is forming with support at 152.60 on the 4-hour chart.
- EUR/USD is at risk of more downside below 1.1550.
- Bitcoin trimmed gains and traded below $110,000.
USD/JPY Technical Analysis
The US Dollar remained well-bid above 151.50 against the Japanese Yen. USD/JPY started a fresh increase above 152.00 and 153.00.
Looking at the 4-hour chart, the pair settled above 153.00, the 100 simple moving average (red, 4-hour), and the 200 simple moving average (green, 4-hour). The pair even surpassed 154.20 and traded to a new multi-week high.
On the upside, the pair faces resistance near the 154.50 level. The next hurdle could be near 155.00. A close above 155.00 resistance might push the pair to 155.50. Any more gains could set the pace for a steady increase toward 156.20.
On the downside, the pair might find support at 153.50. The main support might be 152.80. There is also a key bullish trend line forming with support at 152.60.
A close below the 152.60 zone could start a major pullback toward 151.50. Any more losses might open the doors for a test of 150.00.
Looking at EUR/USD, the pair is declining, and there are chances of more losses below the 1.1500 pivot level in the near term.
Upcoming Key Economic Events:
- US Personal Income for Sep 2025 (MoM) – Forecast +0.4%, versus +0.4% previous.
- US Core Personal Consumption Expenditure for Sep 2025 (MoM) – Forecast +0.2%, versus +0.2% previous.
- Chicago Purchasing Manager’s Index for Oct 2025 – Forecast 42.3, versus 40.6 previous.
