USD/JPY Price Forecast: Breaks Above 145.00 As Trade Hopes Lift USD

Yen, Money, Wealth, Japanese Yen

Yen. Image Source: Pixabay


The USD/JPY pair advances for the first time in the week, clearing Monday’s high of 144.95, as the US Dollar (USD) climbs on speculation that Washington and Beijing might reach a trade agreement in London. This has pushed the major above 145.00, posting gains of over 0.24%.


USD/JPY Price Forecast: Technical outlook

Consolidation is the name of the game. USD/JPY is trapped on the downside by the confluence of the bottom of the Ichimoku Cloud (Kumo), the 200-day Simple Moving Average (SMA) at 144.26 and the June 9 close near 144.00. Topside, the first resistance is the Senkou Span B at 145.18, followed by the Kijun-sen at 145.38.

The Relative Strength Index (RSI) is bullish. Hence, the pair may resume its uptrend in the near term, once it clears key resistance levels.

If USD/JPY buyers claim 145.38, the next target is 146.00. A decisive break will expose the 100-day SMA at 147.72. Otherwise, if the pair tumbles below 144.00, the first support would be the June 3 low at 142.37 and the May 27 swing low at 142.11.


USD/JPY Price Chart – Daily

(Click on image to enlarge)


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Disclaimer: Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only ...

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