- USD/JPY climbs 0.87% to 144.83, approaching the breakthrough above the Ichimoku cloud.
- Strong Us Jobs report, and a higher state treasury gives Greenback fuels.
- Bulls Eye 146.00 and 29 May at 146.28 as the next plus goals.
USD/JPY expanded its upward trend for two consecutive days, and the main pair of currencies reached a novel weekly level of 145.09, driven on Friday with solid US economic data. A powerful American report of paying American, growing profitability of treasury bonds in the US, and a slightly positive change in moods in relation to assets in the US has increased the green place. At the time of writing, the pair trads at 144.83, which is an augment of 0.87%.
USD/JPY price forecast: technical perspectives
The major consolidated in the area of ​​142.00-145.00 over the last five days and, from the time of writing, they are threatening to crack over the Ichimoku cloud (Kumo), which can open the door to the further mountain. Nevertheless, the lack of a catalyst has been maintaining the USD/JPy option so far.
The relative force indicator (RSI) became stubborn after a sudden jump above the 50-neutral line. That is why the bulls seem to collect some pair.
Given the background, the track of the lowest resistance is tilted up. The first resistance for USD/JPY would be the number 145.00. The violation of the latter will reveal Senkou B. B at 145.38. In terms of further force, salesmen may challenge 146.00, and on May 29 waving high at 146.28. The decisive break will change a pair of stubborn, removing the path to testing 150.00.
On the other hand, the lack of maintenance of USD/JPY above the Kumo bottom near 144.25/50 may exacerbate a decrease to 144.00 and below. In this result, the next key level of support, before a keen drop to 139.88, would be a low level of 142.37 on June 3.
Capora of Cena USD/JPY – every day
Frequently inflicted by Japanese Jena
Japan Japan (JPY) is one of the most rotating currencies in the world. Its value depends widely by the results of the Japanese economy, but more specifically by Bank of Japan Policy, the difference between the profitability of Japanese and American bonds or risk moods among investors.
One of the mandates of the Bank of Japan is currency control, so its movements are crucial for Jen. Boj sometimes intervened directly on currency markets, generally to reduce the value of Jen, although it often refrains from doing it because of the political fears of the main trading partners. BOJ Ultra-Loose Monetary policy in the years 2013–2024 meant that Jen was absorbed in relation to the main currency peers due to the growing discrepancy of policy between the Bank of Japan and other main central banks. Recently, the gradual unwinding of this ultra-losing policy gave some support to Jen.
Over the past decade, the attitude of the BOJ regarding the sticking to the ultra-losing monetary policy has led to the discrepancy of politics with other central banks, especially among the US Federal Reserve. This confirmed the expansion of the difference between 10-year bonds in the USA and Japanese, which favored the American dollar in relation to Japanese yen. The decision Bij in 2024, about the gradual abandonment of ultra-losing policy, combined with interest cuts at other main central banks, narrows this difference.
Japanese yen is often seen as a safe and sound investment. This means that in times of market stress, investors more often place their money in Japanese currency due to its alleged reliability and stability. Turbulent times will probably strengthen the value of Jen in relation to other currencies perceived as more risky to invest.
