- USD/JPY rises, trading within a range of 148.00-149.50 as US 10-year yields rise to 4.104%.
- Momentum favors buyers, with a break above 149.50, exposing the key 150.00 level and resistance at the confluence of the 200/100 DMAs at 151.20/21.
- A drop below 149.00 could lead to a pullback towards the October 8 low of 147.35.
USD/JPY rose during the North American session as US Treasury yields remained high, particularly the 10-year note, which rose nearly four basis points to 4.104%. The positive correlation between the US 10-year yield and the pair pushed the exchange rate to 149.13, up 0.37%.
USD/JPY Price Forecast: Technical Outlook
USD/JPY remains with a neutral bias, although trading in a higher range within the 148.00-149.50 area, as traders figure out the next move from the Fed and the Bank of Japan.
From a momentum standpoint, buyers remain in control, although the Relative Strength Index (RSI) has not reached a new peak to push USD/JPY prices higher.
If USD/JPY breaks above the 149.50 area, this will immediately expose the 150.00 figure. Once overcome, the next resistance would be the confluence of the 200 and 100 day moving averages (DMA) at 151.20/21.
Conversely, if the pair falls below 149.00, look for a pullback towards the October 8 low of 147.35.
USD/JPY Price Action – Daily Chart
Japanese Yen PRICE Today
The table below shows the percentage change of the Japanese Yen (JPY) against major currencies today. Japanese Yen was the strongest currency against the Japanese Yen.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | -0.05% | -0.07% | 0.39% | 0.17% | -0.20% | -0.28% | 0.12% | |
| EUR | 0.05% | -0.05% | 0.38% | 0.17% | -0.16% | -0.28% | 0.10% | |
| GBP | 0.07% | 0.05% | 0.45% | 0.24% | -0.10% | -0.21% | 0.19% | |
| JPY | -0.39% | -0.38% | -0.45% | -0.24% | -0.56% | -0.67% | -0.36% | |
| CAD | -0.17% | -0.17% | -0.24% | 0.24% | -0.34% | -0.43% | -0.03% | |
| AUD | 0.20% | 0.16% | 0.10% | 0.56% | 0.34% | -0.13% | 0.27% | |
| NZD | 0.28% | 0.28% | 0.21% | 0.67% | 0.43% | 0.13% | 0.41% | |
| CHF | -0.12% | -0.10% | -0.19% | 0.36% | 0.03% | -0.27% | -0.41% |
The heat map shows percentage changes for major currencies. The base currency is selected from the left column, while the quote currency is selected from the top row. For example, if you choose the Japanese Yen from the left column and move along the horizontal line to the US Dollar, the percentage change shown in the box will represent the JPY (base)/USD (quote).
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
