USD/JPY Price Forecast: Hovers around nine-day EMA near 162.00

USD/JPY may rise toward the 40-year high of 162.84.
The 14-day Relative Strength Index’s drop to the mid-50s indicates that consolidation is neutralizing previous overbought conditions.
The currency pair is positioned slightly above the nine-day EMA of 161.98.

Akhtar Faruqui FXStreet

USD/JPY gains ground after two days of losses, trading around 162.00 during the Asian hours on Monday. The currency pair is keeping a bullish near-term bias as spot holds above both the nine-period and 50-period Exponential Moving Averages (EMAs).

Additionally, the daily technical analysis indicates that the USD/JPY pair is remaining within an ascending channel pattern, suggesting a prevailing bullish bias. Meanwhile, the 14-day Relative Strength Index (RSI) has eased back toward the mid-50s, suggesting the latest consolidation is working off previous overbought conditions without yet undermining the broader uptrend.

The USD/JPY pair could find initial resistance at the 40-year high of 162.84, which was reached on July 1, followed by the upper boundary of the ascending channel around 164.00.

On the downside, the immediate support lies at the nine-day EMA of 161.98, followed by the lower boundary of the ascending channel around 160.80, followed by the 50-day EMA at 160.58. A break below the channel would expose the four-month low of 155.04, recorded on May 6.

Chart Analysis USD/JPY — USD/JPY: Daily Chart

(The technical analysis of this story was written with the help of an AI tool. Know more.)

Japanese Yen Price Today

The table below shows the percentage change of Japanese Yen (JPY) against listed major currencies today. Japanese Yen was the weakest against the US Dollar.

	USD	EUR	GBP	JPY	CAD	AUD	NZD	CHF
USD		0.10%	0.14%	0.18%	0.00%	0.31%	0.06%	0.04%
EUR	-0.10%		0.03%	0.07%	-0.10%	0.22%	-0.00%	-0.04%
GBP	-0.14%	-0.03%		0.07%	-0.14%	0.20%	-0.03%	-0.03%
JPY	-0.18%	-0.07%	-0.07%		-0.18%	0.14%	-0.08%	-0.08%
CAD	-0.01%	0.10%	0.14%	0.18%		0.32%	0.12%	0.11%
AUD	-0.31%	-0.22%	-0.20%	-0.14%	-0.32%		-0.18%	-0.19%
NZD	-0.06%	0.00%	0.03%	0.08%	-0.12%	0.18%		-0.01%
CHF	-0.04%	0.04%	0.03%	0.08%	-0.11%	0.19%	0.00%

The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the Japanese Yen from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent JPY (base)/USD (quote).

Author

Akhtar Faruqui

FXStreet

Akhtar Faruqui is a Forex Analyst based in New Delhi, India. With a keen eye for market trends and a passion for dissecting complex financial dynamics, he is dedicated to delivering accurate and insightful Forex news and analysis.

AUD/USD bulls regain control above 0.6950 amid USD retreat

AUD/USD regains traction and extends the previous day's bounce from the weekly low, aiming for 0.7000 in Asia on Friday. The overnight pullback in US bond yields keeps the US Dollar below an 18-month high, which in turn offers some support to the pair. Meanwhile, hawkish RBA expectations also keep the major underpinned.

USD/JPY holds gains near 158.00 after Japan's weak Household Spending data

USD/JPY clings to gains around 158.00 after data showed on Friday that Japan's Household Spending fell for the ninth straight month, undermining the Japanese Yen. Meanwhile, the US Dollar remains depressed as the overnight fall in US bond yields counters a hawkish Fed and geopolitical uncertainties, could cap any downside in the pair.

Gold remains range-bound below $4,200

Gold has given up some ground after an initial bullish attempt to reach weekly highs, returning to below the $4,200 mark per troy ounce on Friday. The US Dollar’s strong upside momentum, combined with rising US Treasury yields across the curve, seems to keep further gains in the yellow metal under scrutiny.

Has Bitcoin really escaped the macro forces it was built to fight?

Over 17 years ago, Satoshi Nakamoto designed Bitcoin (BTC) on the back of a global financial crisis as an alternative to the global monetary system outside the control of central banks, governments and traditional intermediaries. This raises a key question: has Bitcoin really become independent of the macroeconomic forces it was built to challenge?

The Euro is not the sick man of Europe. France's bond market is

EUR/USD remains under pressure, near the 17-month low of 1.1161 reached on Monday. The pair has lost more than 7% since its yearly peak, as concerns over France's public finances increasingly weigh on the single currency. But behind the weakness of the Euro (EUR), the problem does not necessarily lie with the European economy as a whole.