Mexico beat Canada 2-0 thanks to goals from winger Uriel Antona and defender Johan Vasquez in the second half.
In the other semi-final frame, Honduras defeated America 2-1.
Honduras opened the scoring in the final seconds of the first half.
When Obregon put the ball in the net after Denel Maldonado headed the ball in front of the goal.
The US national team’s suffering increased in the 47th minute when Palma intercepted a pass from goalkeeper David Ochoa before he fired directly into the net, scoring the winning goal.
The United States, which has not qualified for the Olympics since 2008.
And scored its only goal through Jackson Yewell with a shot from outside the penalty area.
Honduras, which tops Group Two in the eight-team tournament, will meet Mexico or Canada on Tuesday.
Mexico and Honduras will represent CONCACAF in the Tokyo Olympics from July 23 to August 8.
The tournament was scheduled to be held in March 2020 but was postponed due to COVID-19.