On Monday, USD/JPY is actively adding to the value in the morning, getting close to the most important resistance of 139.00, the pair is approaching historical highs updated in July, as the dollar received a new impetus from Jerome Powell's speech at the economic symposium in Jackson Hole. The head of the Federal Reserve confirmed the regulator's intentions to continue tightening monetary policy until complete victory over inflation.
The US currency is strengthening, ignoring Friday's negative macroeconomic statistics. According to the report, the volume of personal household income in July slowed from 0.7% to 0.2%. Expenses decreased from 1.0% to 0.1%.
The yen is also under pressure from economic news. Japan's index of matching indicators was released today, which fell from 99.0 to 98.6 pp in June. The index of leading indicators sank from 101.2 p to 100.9 p.
USD/JPY Technical Analysis
The Bollinger indicator on Daily remains confidently turned towards growth.
The MACD indicator rises in a positive range and maintains a strong bullish signal.
The stochastic oscillator briefly left the overbought area, but again tests the 80% level from the bottom up for an upward breakdown.
After fixing the pair above 139.50, we proceed to buying an asset with a target mark of 141.50. We will set the stop loss at 138.50.
With a rebound from 139.50, it is recommended to wait for a breakout of the support of 138.50 and then proceed to the formation of short positions with a target of 136.540. Placing a stop loss at 139.50.