USD JPY Technical Analysis March 10, 2025
As of March 10, 2025, the USD/JPY currency pair has experienced notable fluctuations on the H1 time frame, influenced by recent economic developments and market sentiment.
Current Price Levels and Technical Indicators:
In the past few hours, USD/JPY has been trading around 147.72, reflecting a slight decrease from the previous day’s close of 148.10. Technical indicators suggest a bearish bias, with the pair attempting to resume its downward trend. The 50-period moving average is positioned above the current price, reinforcing the bearish outlook.
Support and Resistance Levels:
Immediate Resistance: 148.10 – This level has capped recent upward movements, acting as a significant resistance point.
Immediate Support: 147.50 – A breach below this level could lead to further downside momentum.
Key Support: 146.50 – This level is identified as the next potential target for the bearish trend, offering a significant support zone.
Fundamental Factors:
The recent appreciation of the yen can be attributed to a risk-averse market sentiment, driven by concerns over a potential global trade war and deflationary pressures in China. President Trump’s imposition of tariffs on major trading partners has heightened market uncertainty, leading investors to seek safe-haven assets like the yen. Additionally, China’s consumer prices have fallen sharply, contributing to global deflationary fears and influencing currency movements.
Conclusion:
The USD/JPY pair is currently navigating a bearish phase, with immediate resistance at 148.10 and support levels at 147.50 and 146.50. Traders should monitor these levels closely, as breaks above resistance or below support could signal significant shifts in market sentiment. Staying informed about geopolitical developments and economic indicators will be crucial for anticipating potential currency movements in the coming hours.
EUR/USD Technical Analysis March 10, 2025