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Published: 11 May 2026,07:24
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Dollar Index, H4:
The U.S. Dollar Index (DXY) had previously been trading within a broader lower-high structure on the chart, reflecting a prevailing bearish trend as price remained capped below the descending trendline resistance that has held since early April. Recent price action, however, suggests the index may be stabilizing near the key 97.80 support zone after multiple rejections lower, indicating that downside momentum could be gradually easing in the near term.
Momentum indicators are beginning to reflect this improving tone. The Relative Strength Index (RSI) has recovered back toward the midpoint, signaling that bearish momentum is weakening and that market conditions are shifting toward a more neutral bias. Meanwhile, the Moving Average Convergence Divergence (MACD) is attempting to stabilize after the recent selloff, with momentum conditions gradually improving and hinting at a possible short-term recovery phase for the index.
Despite these signs of stabilization, DXY continues to face resistance around the 98.50 area, with the broader structure still requiring stronger upside confirmation before a clearer reversal can develop. A sustained recovery above the nearby resistance zone would help strengthen the case for further upside momentum, while failure to maintain support around 97.80 could leave the index vulnerable to renewed downside pressure.
Resistance Levels: 98.50, 98.90
Support Levels: 97.80, 97.40
USDJPY, H4
USDJPY remains under broader downside pressure on the chart after repeatedly failing to sustain breaks above the 159.90 resistance zone, which has acted as a major rejection area several times over the past few weeks. The sharp selloff from the recent highs near 160.70 confirmed a bearish shift in momentum, driving price toward the key support region around 155.60. However, the pair has since stabilized and is now attempting a short-term recovery from that demand zone.
Recent price action suggests buyers are gradually rebuilding momentum after defending the 155.60 support area multiple times. USDJPY has rebounded back above 156.75 and is now testing the 157.25–157.65 resistance region. RSI has also recovered above the 50 level, indicating improving short-term momentum, while MACD continues to strengthen with bullish histogram bars expanding after the previous bearish wave faded.
Despite the recovery attempt, the broader structure remains cautious below the 159.90 resistance area, where previous rallies have consistently faced strong selling pressure. As long as price remains above the 155.60 support zone, near-term downside pressure may continue easing, although volatility is likely to remain elevated around current levels.
Resistance Levels: 157.25, 157.65
Support Levels: 156.75, 155.60
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