USDJPY

The Japanese Yen (JPY) lost value for the fourth consecutive session on Tuesday, driven by the significant interest rate difference between Japan and the United States (US). This pressure on the JPY supported the USD/JPY pair. Market sentiment is emerging that the Bank of Japan (BoJ) may raise interest rates earlier than expected against the weak Japanese Yen. The daily gain for the pair, which closed at 156.46 on the previous trading day, was 0.13%. The RSI indicator for the pair, which is above its 20-day moving average, is at 59.34, while its momentum is at 102.28. Intraday downward movements can be followed at 156.40. If this level is broken, supports at 156.25, 156.04 and 155.89 may become important. In case of possible increases, resistance levels at 156.61, 156.76 and 156.97 will be monitored. Support: 156.250 – 156.040 Resistance: 156.610 – 156.760