Key Highlights
- USD/JPY remained supported above the 154.00 zone.
- A key bullish trend line is forming with support at 154.15 on the 4-hour chart.
- EUR/USD recovered some losses and climbed above 1.1580.
- GBP/USD still faces hurdles near 1.3200 and 1.3240.
USD/JPY Technical Analysis
The US Dollar settled above the 152.00 pivot level against the Japanese Yen. USD/JPY tested 155.00 before there was a short-term correction.
Looking at the 4-hour chart, the pair remained supported above 154.00, the 100 simple moving average (red, 4-hour), and the 200 simple moving average (green, 4-hour). On the downside, there is a key bullish trend line forming with support at 154.15.
On the upside, the pair faces resistance near the 155.00 zone. The first key hurdle sits at 155.50. A close above 155.50 might send the pair higher toward 156.20.
The next resistance could be 156.50. Any more gains could set the pace for a steady increase toward 158.00. On the downside, the pair might find support at 154.00 and the trend line. The main support might be 153.35 and the 100 simple moving average (red, 4-hour).
A close below the 153.35 zone could start a pullback toward 152.00 and the 200 simple moving average (green, 4-hour). Any more losses might open the doors for a test of 151.00.
Looking at EUR/USD, the pair started a recovery wave above 1.1580 and now faces tough resistance near 1.1650.
Upcoming Key Economic Events:
- US Retail Sales for Oct 2025 (MoM) – Forecast +0.4%, versus +0.6% previous.
- US Producer Price Index for Oct 2025 (MoM) – Forecast +0.3%, versus -0.1% previous.
- US Producer Price Index for Oct 2025 (YoY) – Forecast +2.6%, versus +2.6% previous.
