The USDJPY reacted to the 200-bar moving average on the 4-hour chart and the broken 38.2% retracement of the 2025 trading range following the U.S. PPI release. Momentum then carried the pair higher, testing the 100-bar moving average on the 4-hour chart at 147.813, where sellers leaned on the first attempt. Just above, at 147.887, sit last week’s swing highs.
The bounce to the upside has now brought the pair back between the 100- and 200-bar moving averages—levels that defined last week’s entire trading range. Earlier this week, price briefly pushed above these averages toward targets at 148.58 and 148.779, but sellers quickly regained control.
Yesterday, the low stalled at the 200-bar MA before breaking below, only to see price rebound today. This leaves traders once again watching the range between the two moving averages for the next directional break after multiple failed attempts in both directions this week.
The US yields are moving higher which is helping the USDJPY
- 2 year yield 3.744%, +5.8point basis points
- 5-year yield 3.825%, +5.4 basis points
- 10 year yield 4.296%, +5.7 basis points
- 30 year yield 4.82%, +5.5 basis points
