USD/JPY Price Forecast: Rebounds above 153.00 as buyers stepped in
- USD/JPY rebounds, erasing prior 100-pip loss as yields stabilize and Dollar demand strengthens.
- Support sits near 20-day SMA and lower trend levels, while resistance capped near recent highs.
- RSI supports bullish continuation if price clears key resistance, signaling momentum buildup ahead.
The USD/JPY stages a recovery on Friday with buyers claiming 153.00, an indication that the uptrend might resume in the short term. The 100-pip or 0.68% Thursday’s loss was offset by traders buying the US Dollar due to its close correlation with the US 10-year Treasury note yield, which was steady during the trading day.
USD/JPY Price Forecast: Technical outlook
The USD/JPY technical picture shows that buyers regained momentum at around 153.00 with the next support level seen at the 20-day SMA at 152.52. Although buyers kept the exchange rate from falling to 152.80, a breach of the latter opens the door towards the 20-day SMA and on further weakness, the October 29 low lies next at 151.53.
However, buyers remain in charge as depicted by the RSI. That said, if USD/JPY rises above 154.00, the next resistance would be the November 4 peak at 154.48, followed by 155.00.
USD/JPY Price Chart – Daily
Japanese Yen Price This week
The table below shows the percentage change of Japanese Yen (JPY) against listed major currencies this week. Japanese Yen was the strongest against the New Zealand Dollar.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | -0.29% | -0.22% | -0.41% | 0.11% | 0.76% | 1.70% | 0.05% | |
| EUR | 0.29% | 0.07% | -0.05% | 0.40% | 1.04% | 1.99% | 0.34% | |
| GBP | 0.22% | -0.07% | -0.28% | 0.33% | 0.97% | 1.92% | 0.27% | |
| JPY | 0.41% | 0.05% | 0.28% | 0.48% | 1.15% | 2.09% | 0.58% | |
| CAD | -0.11% | -0.40% | -0.33% | -0.48% | 0.59% | 1.57% | -0.06% | |
| AUD | -0.76% | -1.04% | -0.97% | -1.15% | -0.59% | 0.95% | -0.70% | |
| NZD | -1.70% | -1.99% | -1.92% | -2.09% | -1.57% | -0.95% | -1.62% | |
| CHF | -0.05% | -0.34% | -0.27% | -0.58% | 0.06% | 0.70% | 1.62% |
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
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.
