- USD/JPY is up more than 0.90% at 144.54, boosted by a rise in the 10-year US Treasury bond yield.
- Despite the rally, the pair is showing a bearish bias, remaining below the Ichimoku Cloud and the 200-day moving average (DMA).
- The RSI crosses above the neutral line, suggesting potential for continued gains in the near term.
- Key resistance at 145.00, with subsequent levels at 146.73 (50-DMA) and 147.00.
- A drop below 144.00 could find support at 143.39 (Kijun-Sen), 142.76 (Senkou Span A) and 142.13 (Tenkan-Sen).
USD/JPY is up during the North American session, posting gains of over 0.90% as the US Dollar recovers. The rise in the 10-year US Treasury bond yield sponsored a boost in the pair, which is trading at 144.54 at the time of writing.
USD/JPY Price Forecast: Technical Outlook
Despite the rally during the session, the USD/JPY remains biased to the downside as the exchange rate persists below the Ichimoku (Kumo) Cloud and the 200-day moving average (DMA).
The Relative Strength Index (RSI) has just broken through its neutral line, opening the door for further gains in the short term.
That said, the next resistance for the USD/JPY would be the psychological figure of 145.00 before testing the 50-DMA at 146.73. With further strength, the pair could reach the 147.00 figure.
Conversely, if USD/JPY breaks below 144.00, this could pave the way for challenging the Kijun-Sen at 143.39, followed by the Senkou Span A at 142.76 and the Tenkan-Sen at 142.13.
USD/JPY Price Action – Daily Chart
Japanese Yen PRICE Today
The table below shows the Japanese Yen (JPY) exchange rate against major currencies today. The Japanese Yen was the strongest currency against the New Zealand Dollar.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | 0.22% | 0.51% | 0.82% | 0.26% | 0.75% | 0.91% | 0.68% | |
| EUR | -0.22% | 0.29% | 0.60% | 0.04% | 0.53% | 0.70% | 0.45% | |
| GBP | -0.51% | -0.29% | 0.27% | -0.25% | 0.24% | 0.37% | 0.18% | |
| JPY | -0.82% | -0.60% | -0.27% | -0.56% | -0.07% | 0.09% | -0.14% | |
| CAD | -0.26% | -0.04% | 0.25% | 0.56% | 0.49% | 0.66% | 0.43% | |
| AUD | -0.75% | -0.53% | -0.24% | 0.07% | -0.49% | 0.17% | -0.07% | |
| NZD | -0.91% | -0.70% | -0.37% | -0.09% | -0.66% | -0.17% | -0.24% | |
| CHF | -0.68% | -0.45% | -0.18% | 0.14% | -0.43% | 0.07% | 0.24% |
The heatmap shows percentage changes of 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 chart 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.
