- USD/JPY hits a two-month high of 149.98 but faces resistance at the psychological figure of 150.00.
- The technical outlook remains skewed to the upside, with a bullish RSI signaling room for further gains before overbought conditions.
- A break above 150.00 could target resistance at the 100- and 200-day DMAs around 151.14-151.22, while a fall below 149.50 could trigger a retest of 149.00 and the Oct. 8 low at 147.35.
USD/JPY extended its gains during the North American session, rising 0.42% and trading at 149.75 at the time of writing. The pair hit a two-month high of 149.98, although buyers lacked the strength to break the 150.00 figure.
USD/JPY Price Forecast: Technical Outlook
USD/JPY daily chart is neutral to bullish after breaking key support levels.
Momentum, as measured by the Relative Strength Index (RSI), is bullish, with enough room before becoming overbought.
If USD/JPY breaks above 150.00, this could pave the way to challenge the 100-day and 200-day moving averages (DMAs) each at 151.14 and 151.22. With more strength, the next stop would be the top of the Ichimoku (Kumo) Cloud at 152.00.
Conversely, if USD/JPY falls below the 149.50 mark, this could sponsor a test of the 149.00 mark. A break of the latter will expose the October 8 low of 147.35, ahead of the Tenkan-Sen at 146.70.
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 Swiss franc.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | 0.31% | 0.10% | 0.45% | 0.17% | 0.42% | 0.27% | 0.68% | |
| EUR | -0.31% | -0.29% | 0.02% | -0.05% | 0.13% | -0.13% | 0.27% | |
| GBP | -0.10% | 0.29% | 0.31% | 0.09% | 0.45% | 0.19% | 0.53% | |
| JPY | -0.45% | -0.02% | -0.31% | -0.27% | 0.00% | -0.10% | 0.23% | |
| CAD | -0.17% | 0.05% | -0.09% | 0.27% | 0.19% | 0.13% | 0.33% | |
| AUD | -0.42% | -0.13% | -0.45% | -0.00% | -0.19% | -0.14% | 0.22% | |
| NZD | -0.27% | 0.13% | -0.19% | 0.10% | -0.13% | 0.14% | 0.34% | |
| CHF | -0.68% | -0.27% | -0.53% | -0.23% | -0.33% | -0.22% | -0.34% |
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.
