USD/JPY Technical Analysis April 10, 2025
Current Price Levels and Technical Indicators:
As of 7:00 GMT on April 10, 2025, the USD/JPY pair is trading at approximately 146.77. The Relative Strength Index (RSI) is approaching the 70 level, suggesting that the pair is nearing overbought conditions. The 50-day Simple Moving Average (SMA) is positioned near 146.00, acting as a resistance level, while the 200-day SMA is located around 144.50, serving as a longer-term support level.
Support and Resistance Levels:
Immediate support is observed around the 146.00 mark, aligning with the 50-day SMA. A breach below this level could expose the pair to further downside towards the 144.50 region, coinciding with the 200-day SMA. On the upside, resistance is noted near 147.00.
Fundamental Factors:
The Japanese Yen is strengthening due to increased demand for safe-haven assets amid escalating US-China trade tensions and fears of a global recession. Additionally, stronger-than-expected Producer Price Index (PPI) data from Japan has reinforced expectations of a more hawkish stance from the Bank of Japan (BoJ), further supporting the Yen.
Conclusion:
The USD/JPY pair is approaching key technical levels, with the potential for further downside if support is breached. Traders should monitor ongoing trade developments and economic indicators from both the US and Japan for potential impacts on the pair’s trajectory.
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