Investors should be on the lookout for price movements in USD/JPY during U.S. trading hours, as the currency pair faces resistance at higher levels.
29.08.2025
- Canada: Real GDP
- Japan/Tokyo Consumer Price Index
In the U.S. currency market yesterday, the dollar fell against the yen despite the upward revision of U.S. second-quarter real GDP for personal consumption (revised figure) from 1.4% to 1.6%, which was announced yesterday. The USD/JPY pair fell from 147.479 to 146.658.The pair declined as it encountered resistance at the 20-period moving average (MA) on the hourly chart. On the 4-hour chart, a gradual decline along the 10-period MA is observed, while on the daily chart, the pair is on the verge of breaking below the support line formed by the 75-period MA.
Despite the fact that the Eurozone’s August business sentiment index, released yesterday, fell to 95.2 from 95.8 the previous month—missing market expectations of 95.9—the euro rose slightly against the yen.The EUR/JPY pair rose from 171.120 to 171.791. The price recovered from the -3σ to the +2σ levels of the hourly Bollinger Bands. On the 4-hour chart, the price is finding support at the 200 EMA, while on the daily chart, it is forming lower highs just below the 20 MA.
Today’s economic indicators include Japan’s employment statistics and Tokyo Consumer Price Index at 8:30 a.m., Japan’s industrial production and retail sales at 8:50 a.m., Japan’s housing starts and Consumer Sentiment Index at 2:00 p.m., Germany’s employment statistics at 4:55 p.m., Germany’s Consumer Price Index at 9:00 p.m., Canada’s real GDP and U.S. personal income/expenditures, U.S. Wholesale Inventories, and U.S. PCE Price Index; at 10:45 PM, the U.S. Chicago PMI; and at 11:00 PM, the U.S. University of Michigan Consumer Sentiment Index. We should remain highly vigilant regarding price movements in USD/JPY during U.S. trading hours, as the currency pair is facing resistance on the upside.
Author: Keisuke Sakurai
