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USD/JPY Price Analysis: Rebounds to 150.00 amid dovish BoJ remarks

USD/JPY bounces back to 150.12, recovering after BoJ Governor's dovish comments trigger USD rally.
Technical analysis suggests potential for further gains, with eyes on surpassing February highs.
Key support and resistance levels outlined, with a close eye on 150.00 as a pivotal point for direction.

The USD/JPY stages a recovery after diving to a two-week low of 149.21, climbing above the 150.00 figure on Friday amidst dovish comments by the Bank of Japan (BoJ) Governor Kazuo Ueda during the Asian session. That favored the Greenback, which paired Thursday’s losses, and currently stands at 150.12, up by a modest 0.10%.

USD/JPY Price Analysis: Technical outlook

From a technical perspective, the USD/JPY resumed its uptrend, clearing the Tenkan-sen at 150.02, with buyers eyeing further gains past that level. The next cycle high would be the February 28 high at 150.85, before reaching 151.00. Upside risks emerge once surpassed, with the next supply zone seen at last year’s high of 151.91.

Conversely, if sellers achieve a daily close below 150.00, the next support emerges at the confluence of the February 29 low and Senkou span A at 149.21 before challenging 149.00. The Kijun-sen lies beneath that area, at 148.39.

USD/JPY Price Action – Daily Chart

USD/JPY

Overview
Today last price	150.13
Today Daily Change	0.22
Today Daily Change %	0.15
Today daily open	149.91

Trends
Daily SMA20	149.78
Daily SMA50	147.07
Daily SMA100	147.67
Daily SMA200	145.91

Levels
Previous Daily High	150.71
Previous Daily Low	149.21
Previous Weekly High	150.77
Previous Weekly Low	149.68
Previous Monthly High	150.89
Previous Monthly Low	145.9
Daily Fibonacci 38.2%	149.78
Daily Fibonacci 61.8%	150.14
Daily Pivot Point S1	149.18
Daily Pivot Point S2	148.44
Daily Pivot Point S3	147.68
Daily Pivot Point R1	150.68
Daily Pivot Point R2	151.45
Daily Pivot Point R3	152.18

Author

Christian Borjon Valencia

FXStreet

Christian Borjon began his career as a retail trader in 2010, mainly focused on technical analysis and strategies around it. He started as a swing trader, as he used to work in another industry unrelated to the financial markets.

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