USD/JPY Forecast: topped at 105.50 after US GDP release

Valeria Bednarik FXStreet

USD/JPY Current price: 105.17

View Live Chart for the USD/JPY

The USD/JPY pair topped at 105.50 this Friday, right after the release of better-than-expected US advanced Q3 GDP. According to preliminary estimates, the economy grew 2.9%, well below previous quarter final reading of 1.4%, r the 2.5% expected. Nevertheless, the pair is retreating towards the 105.00 level ahead of the US opening, with market still trying to figure out what to do next. The pair however, remains at multi-month highs, and the 1 hour chart shows that technical indicators have lost downward strength after reaching their mid-lines, whilst the price remains well above its 100 and 200 SMAs. In the 4 hours chart, technical indicators are retreating modestly from overbought levels, while the price remains well above its moving averages, limiting changes of a steeper decline. Previous weekly high at 104.85 is the immediate support, and the level to break to deny the bullish short term tone.

Support levels: 104.85 104.50 104.10

Resistance levels: 105.50 105.90 106.30

Interested in USD/JPY technicals? Check out the key levels

1. R3 106.73
2. R2 106.04
3. R1 105.67
PP 104.98
1. S1 104.60
2. S2 103.92
3. S3 103.54

Author

Valeria Bednarik

FXStreet

Valeria Bednarik was born and lives in Buenos Aires, Argentina. Her passion for math and numbers pushed her into studying economics in her younger years.

AUD/USD bounces back toward 0.6950 on fresh USD supply

AUD/USD bounces back toward 0.6950 in the Asian session on Friday. The US Dollar retreats from 17-month highs as traders take profits off the table ahead of the all-important US Nonfarm Payrolls report. Meanwhile, the Australian Dollar draws support from reviving expectations of a November interest rate hike amid elevated global yields and inflation risks.

USD/JPY struggles near 158.00 as USD retreats ahead of NFP

USD/JPY is struggling for fresh impetus near 158.00, moving away from the top end of its weekly range in the Asian session on Friday, after hotter-than-expected Tokyo CPI and amid a broad US Dollar retreat. Traders reposition themselves ahead of US Nonfarm Payrolls.

Gold fades the earlier optimism; back below $4,200

Gold could not sustain the post-NFP bull run past the $4,200 mark per troy ounce, receding toward the $4,180 region at the end of the week. The precious metal’s inconclusive price action comes amid fresh selling pressure hurting the US Dollar as investors assess the latest NFP data.

Week ahead: Fed minutes in the spotlight amid bond market rout

The first full week of October and the final quarter of the year get underway with little fanfare in terms of the economic agenda. But far from being short on excitement, the coming week will test market nerves, as government bond yields continue to soar on growing worries that the energy crisis will only get worse, fuelling inflation.

CFTC Report: Speculators turn more defensive as Oil exposure falls

The week in one sentence: During the week leading up to September 29, long positions in crude oil were significantly reduced, while short positions in the Canadian Dollar went up. In addition, the positioning of the Australian Dollar and the Japanese Yen declined, while Coffee buying stood out against a more general background of defensiveness.

The Euro is near a one-year low: Inflation could trigger its rebound, not its fall

EUR/USD has fallen to its lowest level since May 2025. The pair hit 1.1312 on Wednesday and trades well below the January peak of 1.2082. The decline reflects a powerful combination of US Dollar strength, geopolitical uncertainty and renewed concerns about Europe's exposure to higher energy prices.