USD/JPY Technical Analysis April 9, 2025
Current Price Levels and Technical Indicators:
As of 7:00 GMT on April 9, 2025, the USD/JPY pair is trading around 145.34. The Relative Strength Index (RSI) is approaching the 70 level, indicating 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:
Support: Immediate support is observed at 145.5320, with further support noted at 145.1200.
Resistance: Immediate resistance is at 146.0100, with a higher resistance level identified at 146.4000.
Fundamental Factors:
The recent implementation of U.S. tariffs, including a 25% levy on Japanese automobiles, has introduced uncertainties affecting the Japanese economy. In response, the Bank of Japan (BOJ) has indicated a commitment to scrutinize the impact of these tariffs when setting monetary policy. Additionally, the Japanese government and the BOJ have scheduled emergency talks to address the economic implications of the new tariffs.
Conclusion:
The USD/JPY pair is currently experiencing upward momentum, approaching key resistance levels. Traders should monitor the support and resistance levels closely, along with developments related to U.S. trade policies and the Bank of Japan’s policy responses, to inform their trading strategies.
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