USD/JPY Technical Analysis April 8, 2025
Current Price Levels and Technical Indicators:
As of 7:00 GMT on April 8, 2025, the USD/JPY pair is trading around the 147.50 level.
Technical indicators present mixed signals:
Relative Strength Index (RSI): The RSI is approaching the 70 level, indicating that the pair is nearing overbought conditions.
Moving Averages:
50-day SMA: Positioned near 146.00, acting as a support level.
200-day SMA: Located around 144.50, serving as a longer-term support level.
Support and Resistance Levels:
Key levels to monitor:
Support:
146.50: Immediate support level.
146.00: Aligns with the 50-day SMA.
144.50: Coincides with the 200-day SMA.
Resistance:
148.00: Psychological resistance level.
148.50: Recent intraday high.
149.00: Upper resistance level.
Fundamental Factors:
Several factors are influencing the USD/JPY pair:
US Tariffs: The recent imposition of tariffs by the US administration has heightened fears of a global economic slowdown, leading investors to seek safe-haven assets like the Japanese Yen.
Bank of Japan’s Monetary Policy: The Bank of Japan’s stance on interest rates and monetary easing measures continues to impact the Yen’s strength.
Market Sentiment: Increased risk aversion in global markets has bolstered demand for the Yen as a safe-haven currency.
Conclusion:
The USD/JPY pair is currently trading around the 147.50 level, with technical indicators suggesting mixed signals. Support is observed at 146.50 and 146.00, while resistance lies at 148.00 and 148.50. Fundamental factors, including escalating trade tensions and the Bank of Japan’s monetary policy stance, are contributing to the pair’s current dynamics. Traders should monitor these developments closely, as they are likely to influence the pair’s movement in the near term.
EUR/USD Technical Analysis April 8, 2025