Technical Analysis: USDJPY

USDJPY rose to a two-week high

On Wednesday, USDJPY continued rising for the 4^th straight trading day. At one point, it came close to the 157 mark, reaching the highest level since 23^rd January.

2026 Japanese general election is approaching

Early general elections are scheduled to be held in Japan on 8^th February, raising political uncertainty and boosting USDJPY.

The USDX was prone to fluctuation and climbed

On Wednesday, the USDX was prone to fluctuation and rose. It ended up 0.25% at 97.63.

The bullish market trend prevailed in the short term

the Chart of the Day

On the chart of the day, USDJPY rose steadily in the short term. The bullish market trend prevailed. 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 157.4. It will climb with potential resistance at 159.4 if it breaks above 157.4.

4-hour chart

On the 4-hour chart, USDJPY was prone to fluctuation and climbed in the short term. 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 156.4. It will rise if it retreats but is stable above 156.4.

Key resistance: 157.4,159.4

Key support: 156.4,155.3

Generally speaking, the bullish market trend prevailed in the short term. Investors could buy as USDJPY retreats during the day.