USDJPY surged to multi-decade highs around 154.80

Apr 22

Earlier in the week, USDJPY surged to multi-decade highs around 154.80 before retracing slightly from those lofty levels as the weekend approached. If the downward reversal gains traction in the upcoming trading sessions, support looms at 153.20 and 152.00 thereafter, with 150.80 possibly becoming a focal point if these price thresholds are breached.

On the flip side, if USDJPY resumes its climb, resistance is likely to materialize near 154.80, followed by 156.00, the upper boundary of a short-term rising channel in place since December of last year. While the pair maintains a bullish outlook, it's essential to proceed with caution given the overbought market conditions and the increasing probability of FX intervention by the Japanese government.

Apr 25

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USDJPY rose 0.4% to a session high of 155.37 on Wednesday, marking the first time since June 1990 that the pair exceeded 155. USDJPY traded at 155.21 as of 5:27 a.m. this morning.

Apr 26

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USD/JPY decreased slightly from the peak to 155.97 before BOJ Governor Ueda's speech.

The BOJ's policy decision hasn't yielded much, and based on recent inflation data, it's hard to see an overly hawkish approach from Ueda. But that could be taken to mean they are comfortable with allowing the yen to fall further.

Ueda prepares to start the press conference. And usually, it will last about an hour or so. USD/JPY rose 0.2% to 155.97 on the day but was down from around 156.20 previously.

May 10

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Jul 23

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From a technical perspective, USD/JPY is trending neutral to bearish as more negative technical signals appear. This, coupled with the release of decelerating inflation, could put pressure on the greenback and push the pair lower. Momentum shows that sellers are dominant, paving the way for the next downtrend.

Jul 30

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USD/JPY steady above 154.40 despite growing expectations of BoJ rate hike

The yen extended its decline for the second straight session on Tuesday. Traders remain cautious ahead of the Bank of Japan's (BoJ) policy meeting on Wednesday, which is likely to see the bank raise interest rates. The market is predicting that the BoJ could raise interest rates by 10bps to 0.1% and is expected to announce plans to cut its bond buying program.

Sep 9

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USD/JPY is trading below the 50-day and 200-day EMA, confirming the bearish bias. If USD/JPY recovers to 142.5, it will open up the possibility of testing the resistance area at 143.49. In case of overcoming the threshold of 143.49, buyers can push the exchange rate towards the next resistance mark at 145.89. It is important to note the impact of Japanese GDP figures and key US economic indicators. Conversely, if the exchange rate falls below 142, it could trigger stronger selling momentum, towards the support area of ​​141.03. The 14-day RSI is at 32.46, showing that USD/JPY may continue to fall to the 142 area before entering an oversold state.