USD/JPY Technical Analysis March 24, 2025
As of 8:00 AM GMT on March 24, 2025, the USD/JPY pair is trading around 149.69, reflecting a 0.26% increase from the previous day.
Current Price Levels and Technical Indicators:
Relative Strength Index (RSI): The RSI is approximately 61.25, indicating moderate bullish momentum without entering overbought territory.
Exponential Moving Averages (EMAs): The pair is trading above both the 50-day and 100-day EMAs, reinforcing the upward bias.
Support and Resistance Levels:
Resistance: Immediate resistance is at 149.95, with a more significant level at 150.50. A break above 150.50 could lead to further gains.
Support: Initial support is at 149.32, with stronger support around 148.80, aligning with the 100-day EMA.
Fundamental Factors:
The USD/JPY pair is influenced by the strength of the US dollar and interest rate differentials between the Federal Reserve and the Bank of Japan. The upcoming announcement of new tariffs by President Trump on April 2 has introduced market caution, affecting currency valuations. Additionally, rising U.S. Treasury yields have provided support to the dollar, contributing to the yen’s weakness.
Conclusion:
The USD/JPY pair maintains a bullish outlook above the 149.32 support level. Traders should monitor key resistance levels at 149.95 and 150.50, as well as stay informed about upcoming economic events that could influence market dynamics.
EUR/USD Technical Analysis March 24, 2025