Technical Analysis: USDJPY

USDJPY rose to a three-month high

USDJPY continued rising and broke above the 149 mark to a three-week high.

US inflation climbed

US CPI, y/y (June) increased by 2.7%, which marked the highest level since February 2025, according to the data from the US Department of Labor. It is widely expected that the Fed will keep the interest rate unchanged in July after US CPI is released.

Japan’s economic data was weak

Japan Industrial Production, y/y (May) declined from -1.8% to -2.4%, and Japan Industrial Production, m/m (May) fell from 0.5% to -0.1%, according to the data from the Ministry of Economy.

The bullish market trend prevailed

the Chart of the Week

On the chart of the week, USDJPY increased steadily. The bullish market trend prevailed in the short term. In terms of technical indicators, KDJ went upwards after golden cross occurred, showing that USDJPY will rise further. Investors should focus on whether USDJPY will break through the resistance at 150.0. It will jump with potential resistance at 151.3 if it breaks above 150.0.

4-hour chart

On the chart of the day, USDJPY was prone to fluctuation and climbed. The bullish market trend prevailed. In terms of technical indicators, MACD went upwards after golden cross occurred, showing that the market trend is bullish. Investors should focus on whether USDJPY will break through the support at 148.0. It will rise if it retreats but is stable above 148.0.

Key resistance: 150.0,151.3

Key support: 148.0,146.8

Generally speaking, USDJPY is more likely to rise further in the short term. Investors should focus on US Retail Sales, m/m (June) during the day.