News & Feeds April 23, 2023

USD/JPY Pulls Back Off Session Highs to Trade at About 134.105

The USD/JPY currency pair on Friday pulled back off the session highs of about 134.330 to trade at about 134.105. The currency pair appears to be forming a descending channel in the 60-min chart. The currency pair has now dropped to trade a few levels below the 100-hour moving average line. This prevented the currency pair from ascending into overbought levels of the 14-hour RSI. USD/JPY Fundamentals Overview From a fundamental perspective, the USD/JPY currency pair is trading at the back of a relatively busy period in both markets. On Friday, Japan’s preliminary Jibun Bank Manufacturing PMI for April beat the