Market Technical Analysis by RoboForex

[RBFX Support]

USDJPY poised to extend its gains in line with the broader trend

The USDJPY pair retains upside potential amid a record rise in government bond yields, with the rate currently standing at 158.40.

Technical outlook

On the H4 chart, the USDJPY pair has formed resistance at 158.45, while the nearest support lies around 156.65. On the daily D1 timeframe, the key support level is located at 155.30, with resistance near 159.00. The broader trend remains bullish, although the price is currently consolidating within a sideways range.

In the short term, the USDJPY pair retains the potential for further gains, bolstered by a strong US dollar and the substantial interest rate differential between the US and Japan. 

Read more - USDJPY Forecast

Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.

Sincerely,
The RoboForex Team