USDJPY US Dollar/Japanese Yen Currency Pair Daily Chart; Overbot; Rising Wedge; Negative Divergence

The dollar/yen currency pair is topping-out right now in real-time on the daily basis. You can see price moving ever higher but the chart indicators are all in negative divergence (red lines) wanting to see a smackdown.

The 20-day MA is a logical downside target to start at 146.95. The 20-week MA support is at 142.76. There is solid price support at 146.38-146.52. The neggie d is nasty so a move lower to test the blue line at 146.50-ish is likely on the table.

The weekly chart is also setting up with neggie d so the dollar/yen is topped out on the daily basis now and the weekly basis may follow suit if not, the USDJPY pair may muddle along for a few days then begin dropping to begin a multi-week move lower.

Of course the man of the hour, Chairman Powell, steps on stage this afternoon after bringing the tablets down from On High, and this drama will dictate any tweaks to the path forward. This information is for educational and entertainment purposes only. Do not invest based on anything you read or view here. Consult your financial advisor before making any investment decision.

Note Added 6:46 PM EST: Federal Reserve Chairman Powell does not hike this time but the Fed may hike once more at one of the last two meetings this year. Dollar/yen catapults higher to 148.10, then drops to 147.75 then rocket launches to 148.35 a couple hours ago. Dollar/yen is now at 148.28. Give the chart a day or two to absorb the Fed news and it should set up the same and begin a spankdown on the daily basis. The Fed joy likely has extended the top on the weekly basis to a couple weeks or so out. Let it top-out on the daily chart above and then as it begins dropping take a closer look at the weekly chart to confirm what is happening in that time frame.

Note Added 9/21/23, Thursday Morning, at 6:43 AM EST: The central banker decisions around the world continue impacting currency markets. Dollar/yen 147.90. USD 105.43.

Note Added 9/23/23, Saturday: USD/JPY 148.37. USD 105.58. XJY (yen) 67.44.