USD/JPY forecast for today by Traders Union analysts
The USD/JPY is one of the most popular pairs among Forex traders. The USD/JPY forecast for today is prepared by the analytical department of Traders Union based on the technical analysis of the price: support and resistance levels and also Forex indicators.
USD/JPY collapsed to 154.70 support
16.05.2024
As a result of yesterday's selling of the U.S. dollar, it collapsed to 154.70 support against the Japanese yen. Losing 155.30 support may weaken bullish positions, but against the backdrop of interest rate differentials, the strengthening of the yen may be short-lived. There's a possibility of attempting to grow toward 155.40-155.60 from the current levels. Losing support will lead to a decline toward 154.20-154.00.
USD/JPY cannot continue to rise
15.05.2024
The U.S. dollar continues to be bought against the Japanese yen from 156.30 support, but in an attempt to break the 156.55 resistance, it was again sold, and at the moment continues to trade below this level. The inability of bulls to break the resistance may lead to the loss of support and a decline toward 156.00-155.90. Breaking the resistance will allow retesting yesterday's high at the 156.78 level.
USD/JPY is moving upward
14.05.2024
The U.S. dollar was bought against the Japanese yen yesterday from 155.70 support, and bulls, breaking 155.90 resistance, tested the level of 156.23. The pair still looks good for buyers, and the next target they might aim for is the resistance between 156.40-156.60 levels. The loss of 155.90 support will lead to a decline toward 155.60-155.50, but the U.S. dollar’s decline can still be used for buying opportunities.
USD/JPY maintains positive sentiment
13.05.2024
Benefiting from demand on pullbacks to 155.60-155.50 against the Japanese yen, the U.S. dollar on Friday retested 155.90 resistance but failed to break it again.The yen stays exposed to risks, and the contrast in interest rates might aid in surpassing resistance and advancing toward 156.30-156.50. However, potential intervention by the Bank of Japan would restrict upward movement.
USD/JPY is falling after rising to 155.90
10.05.2024
The U.S. dollar kept gaining demand and surpassed the 155.65 resistance, advancing to reach 155.90 resistance against the Japanese yen. Its sale led to a decline toward 155.45 support, which bears failed to break immediately. At this stage, there are no fundamental factors justifying the selling of USD/JPY, but losing the current support will lead to a decline toward 155.00-154.80.
USD/JPY continues recovery
09.05.2024
The U.S. dollar continues to be bought against the Japanese yen. Breaking 154.60 resistance, it rose to 155.65 resistance, which bulls are attempting to break again after pulling back to 155.40 support. If successful, they may test 155.80-156.00 resistance. Losing support will lead to a decline toward 155.10-155.00.
USD/JPY moves higher
08.05.2024
The U.S. dollar continues to exhibit bullish sentiment against the Japanese yen, as bulls have successfully broken 154.55 resistance and are testing the 154.75 level. They may next test 155.00 resistance, where attempts by bears to regain control are possible. Losing support at 154.25 will lead to a decline toward 154.00-153.80.
USD/JPY storms 154.40 resistance
07.05.2024
Continuing to feel the effects of what's believed to be interventions by the Bank of Japan, the U.S. dollar fell to 151.88, further impacted by the release of disappointing U.S. employment figures. However, the yen still remains vulnerable, which helped the U.S. dollar recover some of its losses and rise to 154.00 resistance. Worries regarding potential Bank of Japan intervention might exert downward pressure on the U.S. dollar, yet it's still not wise to dismiss attempts for an upward move toward 155.00. Failure to break resistance will lead to a decline toward 153.40-153.00.
USD/JPY remains under selling pressure
03.05.2024
Following what seems to be the Bank of Japan's second intervention, the U.S. dollar faced pressure from the Japanese yen again yesterday, bringing it back to 153.10 support, which was the lowest point reached the day before due to the presumed intervention. Even though the difference in interest rates doesn't really support buying yen, in the short run, the potential psychological impact of the two presumed interventions might cause the support to break and the pair to drop further. If the intervention doesn't materialize, which would be quite surprising, the U.S. dollar bulls may regain confidence.
USD/JPY drops again
02.05.2024
In the pair with the Japanese yen, the U.S. dollar was trading close to 158.00 resistance. After the Federal Reserve decided on the interest rate and Jerome Powell's press conference, it experienced a big sale, falling to 153.04. This fall might be connected to the Bank of Japan stepping in, but right now, there's no confirmation of it. Anyway, after testing 153.04, the U.S. dollar returned to 155.31, which bulls still cannot break. It is impossible to forecast further developments in yen pairs, so it is better to stay out of the market.
USD/JPY is rising again
01.05.2024
Following a brief pause, the U.S. dollar resumed its rise against the Japanese yen, surpassing 157.00 resistance level and testing the 157.82 level.The bulls' target may again be at 160.00-160.20 resistance levels, as often after currency interventions, the pair returns to levels preceding the intervention, but it is not excluded that the Japanese Ministry of Finance will intervene as it approaches these levels.
USD/JPY collapsed after soaring to 160.20
30.04.2024
At the start of the Asian session, the U.S. dollar continued its rapid rise against the Japanese yen, testing the 160.20 level. It is likely that at this point, the Bank of Japan intervened in the currency market to bolster the yen, resulting in the dollar plummeting to find 154.55 support. There, it was bought, but this time its rise was limited by 156.80 resistance, and currently, the pair is attempting to ascertain the direction of its next movement. The yen remains vulnerable, and its rise may be used for selling, but the pair's return to Asian session highs may again attract the attention of the Japanese Ministry of Finance.
USD/JPY sets multi-year highs
29.04.2024
The Japanese yen is being sold across the board, resulting in the U.S. dollar reaching levels of 158.40 and setting multi-year highs against it. The Bank of Japan left the interest rate level unchanged, which only increased the pressure on the yen. Its prospects remain negative, but significant oversold conditions and high intervention risks could trigger the liquidation of long positions and, therefore, the development of a downward correction.
USD/JPY continues to assault 155.70 resistance
26.04.2024
The Japanese yen remains unpopular with investors and the U.S. dollar continues to assault 155.70 resistance against it. The Bank of Japan is unlikely to raise the interest rate level, but any means of monetary tightening may cause a short-term growth of the yen. The U.S. dollar may be bought on decline, but the threat of intervention by the Bank of Japan remains relevant.
USD/JPY moves higher
25.04.2024
The Japanese yen is still under pressure from sellers, against which U.S. dollar bulls have broken 154.85 resistance, the level of 155.00, and tested the level of 155.35. The pair is in a steady uptrend, but as the Japanese Finance Minister warned, currency intervention to support the yen is possible at any moment.
USD/JPY continues to trade near 154.55
24.04.2024
The U.S. dollar continues to trade near 154.55 resistance against the Japanese yen. Threats of intervention from the Japanese Ministry of Finance make investors nervous, but the downward spikes continue to attract buying interest. Market participants doubt that intervention will occur before the upcoming Bank of Japan meeting this week, so bulls continue, albeit feeble, attempts to break resistance. Thus, they may reach the 155.00 level, but, as mentioned earlier, with each move higher, the risks of intervention increase.
USD/JPY is moving higher
23.04.2024
In the pair with the Japanese yen, the U.S. dollar passed through 154.72 resistance and tested the level of 154.83. The volatility in the pair is extremely low, but bulls may well test the level of 155.00. The pair's prospects are constructive, but the risks of the Bank of Japan’s intervention remain high.
USD/JPY also bought on decline
22.04.2024
The Japanese yen was likewise bought amid risk-off sentiment, causing the U.S. dollar to drop to 153.60 against it, but it soon rebounded to 154.65 resistance amid the yen's ongoing weakness. Breaking robust 151.80 resistance suggests a strengthening of the upward momentum and testing of at least 155.00. However, the risks of intervention by Japan's Ministry of Finance have significantly increased, so bulls should exercise extreme caution.
USD/JPY returned to resistance
19.04.2024
As expected, the decline of the U.S. dollar against the Japanese yen was again used for buying, thanks to which the dollar, rebounding from support at 154.10-154.00, returned to resistance at 154.65. The pair's outlook remains constructive, with bulls potentially attempting to break current highs. Failure will result in the liquidation of long positions and a decline to the aforementioned support at least. A confident breakout of resistance will lead to a growth toward 155.00. Risks of intervention persist.
The Dollar/Japanese yen fails to break resistance
18.04.2024
In the USD/JPY pair, the U.S. dollar failed to break resistance at 154.70, resulting in its decline to 154.20 support. There are no signs of a trend reversal at the moment, but this does not rule out a decline toward 154.00-153.90. Breaking 154.45 will lead to a growth toward current highs.
The Dollar/Yen is approaching 155.00
17.04.2024
The growth of the U.S. dollar against the Japanese yen continues, and after breaking 154.40 support, the U.S. dollar tested the support level of 154.75. Each dip is used for buying, which indicates the bulls’ intention to test 155.00; the loss of the support level of 154.50 will lead to a decline toward 154.20-154.00. The risks of intervention by the Bank of Japan are increasing.
The dollar/yen continues to grow
16.04.2024
With another attempt, the USD bulls broke the resistance at 153.30 and tested the resistance at 154.40 in the pair with the Japanese Yen. The Bank of Japan's lack of reaction to the yen's fall encourages the bulls to buy, but the lower the yen falls, the higher the risks of intervention. The bulls may test the 154.60-154.80 levels next.
The dollar/yen continues to try to break through the resistance at 153.30
15.04.2024
The US dollar bulls continue to storm the resistance around 153.30 in the pair with the Japanese yen, but so far, without success. The fall to the 152.60 level on Friday was used for buying, and at the moment, the probability of breaking the resistance and rising towards 153.50-153.70 remains high; a loss of support at 153.00-152.80 would lead to a decline toward 152.50-152.10.
Dollar/yen storms the resistance at 153.30
12.04.2024
In the pair with the Japanese yen, the US dollar tried to break through the resistance near the level of 153.30, but all attempts were unsuccessful. Support is near the level of 152.80, above which there is a potential to break the resistance and the pair's growth in the direction of 153.50-154.00; loss of support will lead to a decline in the direction of 152.60-152.30.
The dollar/yen broke through strong resistance
11.04.2024
The acceleration of inflation in the U.S. triggered dollar purchases against the Japanese yen, which broke the resistance around 151.90-152.00 and tested the level of 153.22. Breaking the resistance suggests a rise towards 160.00 in the long term, but a fall in the yen increases the risks of intervention by the Bank of Japan.
The dollar/yen is still in a consolidation phase
10.04.2024
The US dollar is still trading below the 151.90 level when paired with the Japanese yen. Yesterday, after testing this resistance, it declined to 151.60 support, where buying interest remained. If US inflation accelerates, bulls may try to break towards 152.00 again; a slowdown in inflation could favor a decline towards 151.30-151.00. The yen will remain vulnerable in an interest rate differential environment.
The dollar/yen continues to enjoy modest demand
09.04.2024
The US dollar continues to consolidate in the pairing with the Japanese yen, with the bulls not abandoning their attempts to break through the resistance around 151.90-152.00. The yen remains in a vulnerable position on the background of interest rate differential, and the bulls can still break through the resistance. However, further advance of the pair above will increase the risks of intervention by the Bank of Japan. A loss of 151.50 support will lead to a decline towards 151.10/00.
The dollar/yen continues to attack resistance
08.04.2024
After falling to support at 150.85, the US dollar was bought for the Japanese yen, which brought it back to resistance at 151.70. Thus, the upside potential of USD/JPY to at least 152.00 remains; a loss of 151.45 support will lead to a decline towards 151.20-151.00. Failure to break through 152.00 increases the risks of a larger correction.
Dollar/yen declines on anti-risk sentiment
05.04.2024
The flight of investors and risk assets contributed to the emergence of moderate demand for the Japanese yen, against which the dollar failed to break the resistance around 151.70 and, being under pressure, declined to the support at 151.15. Its decline can still be used for buying; the loss of the current support will lead to a decline towards 150.80-150.60.
Dollar/yen sold from 151.93 level
04.04.2024
Another attempt by the USD bulls to break the resistance around 151.80 also failed. After testing the 151.93 level, the dollar retreated to the 151.60 support. Nevertheless, its prospects remain constructive, and the bulls may try again to break to 152.00. Failure to break 151.80 would entail a loss of support and a decline towards 151.40-151.20.
USD/JPY chart
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Why is it important to know the USD/JPY price prediction?
The US Dollar / Japanese yen (USD/JPY) currency pair belongs to the group of the best currency pairs for trading, as it is highly liquid. This pair is particularly interesting for scalping and day trading.
The popularity and high liquidity of USD/JPY can be explained by economic factors, as the U.S. and Japan hold key positions in the global economy. Forex market is used to ensure foreign trade transactions. Forex traders can earn their profit on currency price fluctuations.
FAQ
1
What is the USD/JPY price prediction based on?
Traders Union analysts use various methods of technical analysis:
indicators, support and resistance levels, patterns, etc.
2
What is technical analysis in the Forex market?
Technical analysis is a method of predicting the price movement of a currency pair based on the patterns in the past. It is believed that traders act in the same way under the same circumstances, which is reflected in the price chart.
3
How accurate is the USD/JPY price prediction?
One needs to understand that nobody can give a 100% guarantee. However, Traders Union price predictions are rather accurate, as they take into consideration a combination of factors. Also, the analysts try to provide two versions of development of events: the basic and an additional one.
4
What impacts Japanese yen price against the US dollar
The price of the Japanese yen against the US dollar forms under the influence of economic and speculative factors. Here are some of them:
- Policies of the Central banks of the U.S. and Japan;
- Dynamics of export-import transactions of the two countries;
- Level of inflation;
- Overall situation in the global financial markets;
- Latest Forex trends.
- Policies of the Central banks of the U.S. and Japan;
- Dynamics of export-import transactions of the two countries;
- Level of inflation;
- Overall situation in the global financial markets;
- Latest Forex trends.