USD/JPY Price Forecast: Holds onto gains near monthly high above 157.00
The USD/JPY pair ticks down to near 157.25 during the Asian trading session on Tuesday, but is still close to its over-a-month high of 157.75 posted on Monday. The pair remains firm as the US Dollar’s (USD) safe-haven demand has strengthened amid war between the United States (US)-Israel and the Iran.
As of writing, the US Dollar Index (DXY), which tracks the Greenback’s value against six major currencies, clings to Monday’s gains near 98.50.
Soaring oil prices due to Middle East tensions have weighed heavily on the Japanese Yen (JPY), given that Japan is one of the largest importers of oil in the world.
On the domestic front, investors await the speech from Bank of Japan (BoJ) Governor Kazuo Ueda, which is scheduled at 04:00 GMT. Investors will look for fresh cues on Japan’s interest rate outlook.
In the US, investors await the Nonfarm Payrolls (NFP) data for February, which will be released on Friday.
USD/JPY technical analysis
In the daily chart, USD/JPY trades at 157.23. The near-term bias is mildly bullish as price holds well above the 20-day exponential moving average near 155.70, signalling that the short-term uptrend from the 152.00 area remains in place. The pair is also trading above the broken descending resistance line that was breached around 155.50, turning that breakout area into a tactical pivot that underpins the advance. RSI near 60 confirms positive momentum without overbought conditions, suggesting buyers retain control while upside pressure stays orderly.
Initial support emerges at the former trend-line break zone around 155.50, followed by the recent swing low at 154.70 if a deeper pullback unfolds. A sustained break below 154.70 would expose the 153.30 region, where prior consolidation preceded the latest push higher. On the topside, immediate resistance is seen at 157.50, ahead of the recent peak near 158.40. A daily close above 158.40 would extend the bullish sequence and open the way toward the 159.10 region, where the broader downslope originated and where sellers would be expected to reassert pressure.
(The technical analysis of this story was written with the help of an AI tool.)
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Ripple Partner Reaches One Million People With Safe Water
NASDAQ TRADE HALT CONTINUES <UCFIW.O> REASON NOT AVAILABLE AT 03:58 AM
VIPCross-Asset Positioning Amid AI Earnings Scrutiny and the US Election
1. Markets diverged during the week. Between the October 23 and October 30 closes, BTC fell 4.78%, the Nasdaq 100 declined 1.98%, and gold and silver dropped 2.72% and 8.59%, respectively. The DAX, KOSPI, Nikkei 225 and Hang Seng advanced. We focus on differences in growth prospects, valuation sensitivity and risk exposures rather than applying a single directional view across assets. 2. Market reactions to Alphabet's and Intel's earnings brought returns on AI investment into focus. Attention is shifting from the scale of capital expenditure to revenue realization, margins and free cash flow. Lower interest rates can ease discount-rate pressure, but a sustained valuation recovery still requires support from both operating performance and financing conditions. 3. The November 3 US midterm elections and November 6 employment report are key events in the coming week. We monitor how post-election fiscal and legislative agendas may affect interest rates, the dollar and industry operating conditions. Our execution priorities are to manage leverage and concentration, retain margin and exit-liquidity buffers, and avoid treating a single political outcome as an automatic trading signal. 4. Following Binance's disclosure of a security incident, industry attention to endpoint protection, access segregation and coordinated incident response has increased. Key assets to monitor: BTC, the Nasdaq 100, crude oil and gold, alongside upcoming earnings from AAPL, AMD, PLTR, ARM, ANET and QCOM.
HYATT HOTELS CORP <H.N>: JEFFERIES RAISES TARGET PRICE TO $188 FROM $167
Crypto prices
More
