- USD/JPY trades at 150.21, extending its gains for a second consecutive day amid rising US bond yields.
- RSI signals growing bullish momentum, with the pair approaching key resistance at the top of the Ichimoku Cloud (Kumo).
- Next resistance levels include the 100-DMA at 150.85 and the 200-DMA at 151.32, with support at 150.00 and 149.00.
The USD/JPY climbs past the 150.00 figure on upbeat US Retail Sales and jobs data, gains over 0.38%, and trades at 150.21. The pair extended its gains for the second consecutive day, as US Treasury bond yields soared, due to investors trimming the odds for a Fed 25 basis points (bps) rate cut at the upcoming November meeting.
USD/JPY Price Forecast: Technical outlook
The USD/JPY continues its upward trajectory, and it is about to test the top of the Ichimoku Cloud (Kumo). Technical indicators suggest the major is on an uptrend, though a clear break above the Kumo is needed before the trend is confirmed.
The Relative Strength Index (RSI) cleared the last three peaks, hinting that buyers are gathering steam.
If USD/JPY resumes its bullish uptrend, buyers will face the 100-day moving average (DMA) at 150.85. Once surpassed, the next stop would be the confluence of the top of the Kumo and the 200-DMA at 151.32, ahead of extending those gains to 152.00.
Conversely, USD/JPY first support would be 150.00. Once surpassed, the next stop would be the 149.00 mark, ahead of the Tenkan-Sen at 148.84. If those levels are taken, the next support would be the Senkou Span A at 14690, followed by the 50-DMA at 145.50.
USD/JPY Price Action – Daily Chart
Japanese Yen FAQs
The Japanese Yen (JPY) is one of the world’s most traded currencies. Its value is broadly determined by the performance of the Japanese economy, but more specifically by the Bank of Japan’s policy, the differential between Japanese and US bond yields, or risk sentiment among traders, among other factors.
One of the Bank of Japan’s mandates is currency control, so its moves are key for the Yen. The BoJ has directly intervened in currency markets sometimes, generally to lower the value of the Yen, although it refrains from doing it often due to political concerns of its main trading partners. The BoJ ultra-loose monetary policy between 2013 and 2024 caused the Yen to depreciate against its main currency peers due to an increasing policy divergence between the Bank of Japan and other main central banks. More recently, the gradually unwinding of this ultra-loose policy has given some support to the Yen.
Over the last decade, the BoJ’s stance of sticking to ultra-loose monetary policy has led to a widening policy divergence with other central banks, particularly with the US Federal Reserve. This supported a widening of the differential between the 10-year US and Japanese bonds, which favored the US Dollar against the Japanese Yen. The BoJ decision in 2024 to gradually abandon the ultra-loose policy, coupled with interest-rate cuts in other major central banks, is narrowing this differential.
The Japanese Yen is often seen as a safe-haven investment. This means that in times of market stress, investors are more likely to put their money in the Japanese currency due to its supposed reliability and stability. Turbulent times are likely to strengthen the Yen’s value against other currencies seen as more risky to invest in.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended content
Editors’ Picks

EUR/USD remains bid around 1.1200, USD melts on tariff concerns
EUR/usd maintains its bullish stance well in place on Thursday, reaching the 1.1200 barrier and beyond on the back of intense selling pressure on the US Dollar, fuelled by concerns over the impact of Trump's tariffs on the US economy.

GBP/USD settles around 1.2950 on weaker Dollar
GBP/USD advances markedly and extends its breakout of the 1.2900 hurdle amid global trade war jitters and a severe sell-off in the Greenback, which was exacerbated following news of 145% US tariffs on China.

Gold resumes record rally, reaches $3,175
Gold extended its record rally on fresh tariff-related headlines, trading as high as $3,175 a troy ounce in the American session. The White House confirmed 35% levies on Mexico and Canada, 145% on Chinese imports, resulting in a fresh round of USD selling and pushing XAU/USD further up.

Cardano stabilizes near $0.62 after Trump’s 90-day tariff pause-led surge
Cardano stabilizes around $0.62 on Thursday after a sharp recovery the previous day, triggered by US Donald Trump’s decision to pause tariffs for 90 days except for China and other countries that had retaliated against the reciprocal tariffs announced on April 2.

Trump’s tariff pause sparks rally – What comes next?
Markets staged a dramatic reversal Wednesday, led by a 12% surge in the Nasdaq and strong gains across major indices, following President Trump’s unexpected decision to pause tariff escalation for non-retaliating trade partners.

The Best brokers to trade EUR/USD
SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.