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Today Technical Analysis : Yen Weakens as USD/JPY Approaches Yearly High

January 12, 2026, 08:07

Today Technical Analysis : Yen Weakens as USD/JPY Approaches Yearly High

Gold Technical Analysis

Gold remains in a strong uptrend, with price clearly holding above the 5, 10, and 30 moving averages, which are positively aligned and acting as dynamic support. The recent impulsive rally toward the record high $4,600 shows strong bullish momentum, followed by a brief consolidation near the highs rather than a sharp rejection, which is constructive for continuation.

MACD is currently positive with a bullish signal-line crossover, confirming that buyers remain in control. As long as price holds above the rising short-term moving averages and the previous breakout zone around $4,520–$4,550, the bias stays bullish, with any shallow pullbacks likely to be corrective.

Gold 1H Chart

Gold 1H Chart 12-1-2026
Resistance$4,588$4,600$4,620
Support$4,561$4,546$4,517

USDJPY Technical Analysis

USDJPY remains in a well-defined uptrend in the short term, with price consistently trading above the rising 30-period moving average and printing higher highs toward the 158.00–158.20 region. The short-term moving averages are still supportive, although price action has become more compressed, hinting at near-term consolidation.

MACD shows that momentum is cooling slightly after a strong bullish phase, but there is no clear bearish divergence yet, suggesting the move is pausing for now. As long as the pair holds above the 157.40–157.60 support area, the trend remains bullish, with a potential continuation higher once consolidation resolves.

USDJPY 1H Chart

USDJPY 1H Chart 12-1-2026
Resistance158.21158.75159.05
Support157.72157.50157.00

Dow Jones Technical Analysis

The Dow Jones is showing signs of short-term exhaustion after failing to sustain a move above the 49,600 resistance zone. Price has started to roll over and is slipping back toward the cluster of short-term moving averages, which are beginning to flatten, indicating a loss of upside momentum.

MACD has crossed lower, suggesting bearish momentum is building in the near term. While the broader structure still favors higher highs and higher lows, a deeper pullback toward the 49,000–48,800 support zone would be technically healthy. A clean break below that area would signal a more meaningful corrective phase.

Dow Jones 1H Chart

Dow Jones 1H Chart 12-1-2026
Resistance49,37149,47249,627
Support49,18249,03848,845
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