USD/JPY Price Forecast: The peaks and troughs keep rising
Source Fxstreet
- USD/JPY continues rising in a short and probably medium-term trend higher.
- It is overbought according to RSI, however, and could pull-back to support temporarily.
USD/JPY has been steadily rising since the mid-September 140 lows. It is now in the 149s and appears to have established a short – and probably – medium-term uptrend. Given the premise that “the trend is your friend” the odds favor a continuation higher.
USD/JPY 4-hour Chart
The next target lies at 151.09 and the 200-day Simple Moving Average (SMA) (not shown), followed by the major trendline in the 151.80s.
The pair is overbought, however, according to the Relative Strength Index (RSI) momentum indicator and this means long-holders should not add to their positions as there is a risk of a pull back.
If RSI exists overbought it will signal a correction, probably to support at either 149.40 or 148.32 if deeper.
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
Natural Gas sinks to pivotal level as China’s demand slumpsNatural Gas price (XNG/USD) edges lower and sinks to $2.56 on Monday, extending its losing streak for the fifth day in a row. The move comes on the back of China cutting its Liquified Natural Gas (LNG) imports after prices rose above $3.0 in June. It
Natural Gas price (XNG/USD) edges lower and sinks to $2.56 on Monday, extending its losing streak for the fifth day in a row. The move comes on the back of China cutting its Liquified Natural Gas (LNG) imports after prices rose above $3.0 in June. It
As the Bitcoin market continues to mature, its 2025 outlook appears highly favourable, driven by institutional adoption and regulatory developments.
Ripple CEO Brad Garlinghouse announced late Monday that the company will end its quarterly XRP Markets Report updates after Q2 2025.
SOL price is now correcting gains and might struggle to rise above the $155 resistance.
Gold price (XAU/USD) attracts some dip-buying during the Asian session on Friday and for now.
Related Instrument
