EUR/USD 1.15691
-0.076%
Gold 4201.81
-0.213%
Oil 85.269
0.161%
USD/JPY 160.256
0.184%
GBP/USD 1.34108
-0.035%
GBP/JPY 214.921
0.158%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
On June 12, 2026, the Ministry of Finance hosted the APEC Senior Finance Officials Meeting in Chengdu, Sichuan Province. Vice Minister of Finance Liao Min attended the meeting and delivered the opening address. Liao Min stated that driven by technological progress and digital transformation, the Asia-Pacific regions economy has maintained rapid growth and remains a crucial engine of the global economy. Currently, the regional economy faces multiple challenges. APEC economies should uphold multilateralism, deepen communication and coordination on macroeconomic policies, accelerate economic transformation, maintain the stability and smooth flow of regional industrial and supply chains, and jointly promote long-term sustainable growth of the Asia-Pacific economy. Liao Min also introduced Chinas economic performance, emphasizing that during the 15th Five-Year Plan period, China will continue to promote high-quality development and high-level opening-up, further expand domestic demand, boost consumption, share Chinas development opportunities and dividends with the world, and jointly build an Asia-Pacific community with a shared future.On June 12th, Cui Dongshu, Secretary-General of the China Passenger Car Association (CPCA), stated that the main factors influencing price changes are structural and sales volume changes. Slow sales growth leads to a continuous rise in the average price of passenger cars. The average retail price of passenger cars in 2021 was 165,000 yuan, rising steadily to 184,000 yuan in 2024. The average price of passenger cars in 2025 is 168,000 yuan, a decrease of 16,000 yuan compared to 2024. In May 2026, the average price of passenger cars is 173,000 yuan, an increase of 4,000 yuan compared to the same period last year.Westpac expects the Reserve Bank of Australia to keep interest rates unchanged at its meeting on June 15-16, but there is still a possibility of future rate hikes.The China-South Korea semiconductor ETF rose by more than 7%, and the global chip LOF rose by more than 3%.June 12 - From January to May this year, the national railway completed 248.5 billion yuan in fixed asset investment, a year-on-year increase of 2.6%, effectively leveraging the driving role of railway construction investment and providing strong support for expanding domestic demand in all aspects and enhancing the endogenous driving force of economic and social development.

USD/JPY Price Analysis: Double Top Formation Supports Bearish Reversal, 128.00 Targeted

Daniel Rogers

May 10, 2022 10:48

After reaching a fresh multi-year high of 131.35 on Monday, the USD/JPY pair experienced a sharp decline. The difference between the new multiyear high and the previous high of 131.26, reached in the last week of April, is negligible. Therefore, the recent high may be categorized as an unsuccessful attempt to establish above the previous high.

 

The asset produced a Double Top pattern on a four-hour time frame, indicating a bearish reversal after the successful retesting of the prior highs. The key resistance is established by the high of April 28 at 131.26.

 

Notable is the flattening of the 20-period and 50-period Exponential Moving Averages (EMAs) at 130.42 and 129.94 respectively, which indicates weariness in the uptrend.

 

Meanwhile, the Relative Strength Index (14) has switched from a bullish range of 60.00-80.00 to a consolidation range of 40.00-60.00, indicating a contraction in volatility.

 

The yen bulls could enjoy a brief ride if the asset falls below the 50-EMA at 129.94, which would take the currency towards Thursday's low at 128.76. A break of the latter will bring the asset to the round level support at 128.00.

 

In contrast, the dollar bulls could regain control if the asset surpasses the multi-year high at 131.35. This will take the pair toward the 15 April 2002 high of 132.38, followed by April's high of 132.82.

USD/JPY

image.png 


Suggestion