USDJPY Chart Technical Outlook breaks above 4h-200 SMA on some US Dollar strength, battle on 145.04 continues.
The US Dollar bounced on Wednesday thanks to better-than-expected US New Home Sales. For most currencies trading against the US Dollar, the data served as a correction, but the Japanese Yen is in a losing streak, after the not-too-hawkish Bank of Japan decision.
While I expect the US Dollar to struggle today – assuming jobless claims and other figures do not surprise to the upside – USD/JPY may continue its gradual march upward. It would take devastating figures from the US to send the pair down.
USD/JPY faces resistance at 145.04, the recent high, and it is followed by 145.97 and 147.21. Support is at 143.96 and 142.88. The 50 and 200 4h-SMAs are stabilizing.
