- USD/JPY is experiencing a second day of consolidation, with the RSI around 147.36, indicating a lack of clear momentum.
- Bulls are aiming for a breakout above 147.50, targeting 148.00 and the 200-day SMA at 148.69 for possible further gains.
- However, if the support at 147.00 fails, there could be a decline towards the 100-day SMA at around 146.30 or 146.00.
As of Wednesday, USD/JPY remains stuck within the 147.00-147.65 range, with current levels at 147.36, just a slight drop of 0.07%.
USD/JPY Price Forecast: Technical Outlook
After reaching the 100-day Simple Moving Average (SMA) of 146.30, USD/JPY managed to surpass 147.00, suggesting buyers have entered the market. Yet, the release of key U.S. economic data seems to be holding traders back from making new positions.
The relative strength index (RSI) indicates stability, meaning USD/JPY is largely a range-bound trade for now.
If USD/JPY manages to break above 147.50, resistance at 148.00 will be the next target, with further focus on the 200-day SMA at 148.69. Conversely, a dip below 147.00 could lead to a move toward the 100-day SMA around 146.00.
USD/JPY Price Chart – Daily
This week’s Japanese Yen Price
The table below illustrates the recent performance of the Japanese yen (JPY) against other major currencies. This week, it showed strength particularly against the Canadian dollar.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | 0.12% | -0.20% | -0.56% | 0.20% | -0.97% | -0.80% | 0.04% | |
| EUR | -0.12% | -0.36% | -0.60% | 0.11% | -1.09% | -0.88% | -0.10% | |
| GBP | 0.20% | 0.36% | -0.34% | 0.41% | -0.75% | -0.54% | 0.25% | |
| JPY | 0.56% | 0.60% | 0.34% | 0.73% | -0.42% | -0.36% | 0.65% | |
| CAD | -0.20% | -0.11% | -0.41% | -0.73% | -1.03% | -0.97% | -0.18% | |
| AUD | 0.97% | 1.09% | 0.75% | 0.42% | 1.03% | 0.20% | 1.00% | |
| NZD | 0.80% | 0.88% | 0.54% | 0.36% | 0.97% | -0.20% | 0.80% | |
| CHF | -0.04% | 0.10% | -0.25% | -0.65% | 0.18% | -1.00% | -0.80% |
The heatmap provides insight into how each major currency is moving in relation to one another. The base currency is selected from the left column, while the estimated currency comes from the top row. For instance, choosing the Japanese yen from the left and then moving to the US dollars along the row will show the percentage change for JPY/USD.
