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The USD/JPY stages a recovery on Friday with buyers claiming 153.00, an indication that the uptrend might resume in the short term. The 100-pip or 0.68% Thursday’s loss was offset by traders buying the US Dollar due to its close correlation with the US 10-year Treasury note yield, which was steady during the trading day.

USD/JPY Price Forecast: Technical outlook

The USD/JPY technical picture shows that buyers regained momentum at around 153.00 with the next support level seen at the 20-day SMA at 152.52. Although buyers kept the exchange rate from falling to 152.80, a breach of the latter opens the door towards the 20-day SMA and on further weakness, the October 29 low lies next at 151.53.

However, buyers remain in charge as depicted by the RSI. That said, if USD/JPY rises above 154.00, the next resistance would be the November 4 peak at 154.48, followed by 155.00.

USD/JPY Price Chart – Daily

(Click on image to enlarge)

USD/JPY Daily Chart

JAPANESE YEN PRICE THIS WEEK

The table below shows the percentage change of Japanese Yen (JPY) against listed major currencies this week. Japanese Yen was the strongest against the New Zealand Dollar.

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