- USD/JPY rises from a two-day low of 148.85, gaining strength amid buying and positive risk sentiment.
- The pair remains within the Ichimoku Cloud, signaling a neutral to bullish bias but suggesting that the uptrend could be overextended.
- A break above 150.00 could target the 100-day moving average (DMA) at 150.98, while 149.00 provides key short-term support for the bulls.
The US Dollar prints solid gains of over 0.30% against the Japanese Yen after the pair fell to a two-day low of 148.85, but buyers bought the dip and pushed the exchange rate higher. Although US Treasury yields fell, USD/JPY is trading at 149.71, above its opening price.
USD/JPY Price Forecast: Technical Outlook
The daily chart suggests that USD/JPY is on a steady upward trajectory, although it maintains a neutral to bullish bias. While technical signals indicate that buyers are in control, USD/JPY remains within the Ichimoku (Kumo) Cloud, limiting its advance. Furthermore, despite the bullish conditions, the Relative Strength Index (RSI) has failed to surpass its last three peaks, indicating that the uptrend could be overextended.
If USD/JPY rises above 150.00, it could pave the way towards the 100-day moving average (DMA) at 150.98, followed by the 200-day DMA at 151.27.
On the contrary, if USD/JPY falls below 149.00, the Tenkan-Sen at 147.95 will act as the first support for the bulls. If broken, the next key support levels would be the Senkou Span A at 146.48, followed by the 50-day DMA at 145.36.
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 British pound.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | 0.31% | 0.67% | 0.30% | -0.18% | 0.56% | 0.43% | 0.37% | |
| EUR | -0.31% | 0.37% | 0.02% | -0.46% | 0.26% | 0.14% | 0.02% | |
| GBP | -0.67% | -0.37% | -0.37% | -0.82% | -0.10% | -0.23% | -0.29% | |
| JPY | -0.30% | -0.02% | 0.37% | -0.45% | 0.26% | 0.16% | 0.10% | |
| CAD | 0.18% | 0.46% | 0.82% | 0.45% | 0.72% | 0.59% | 0.54% | |
| AUD | -0.56% | -0.26% | 0.10% | -0.26% | -0.72% | -0.13% | -0.18% | |
| NZD | -0.43% | -0.14% | 0.23% | -0.16% | -0.59% | 0.13% | -0.06% | |
| CHF | -0.37% | -0.02% | 0.29% | -0.10% | -0.54% | 0.18% | 0.06% |
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.
