USD/JPY is currently trading around the 147 level after a technical rebound, but the overall trend still leans to the downside. Recent news shows that the Fed has adopted a dovish stance, weakening the USD, while strong Japanese economic data has reinforced expectations that the BoJ may tighten policy further, lending greater support to the yen. Major institutions such as Nomura have even forecast that USD/JPY could fall toward the 142 area in the coming months.
From a technical perspective, the 148.2 resistance zone is acting as a strong barrier, where price is unlikely to break through given the current news backdrop does not favor USD strength. On the contrary, failure at this level could trigger a reversal, with USD/JPY likely to retest support at 146.2 and potentially extend lower toward the 145 region – a key area that could determine a deeper decline.
Thus, despite short-term fluctuations caused by profit-taking and temporary balance, the medium-term outlook continues to favor a bearish trend, in line with both fundamental drivers and the current technical structure.
From a technical perspective, the 148.2 resistance zone is acting as a strong barrier, where price is unlikely to break through given the current news backdrop does not favor USD strength. On the contrary, failure at this level could trigger a reversal, with USD/JPY likely to retest support at 146.2 and potentially extend lower toward the 145 region – a key area that could determine a deeper decline.
Thus, despite short-term fluctuations caused by profit-taking and temporary balance, the medium-term outlook continues to favor a bearish trend, in line with both fundamental drivers and the current technical structure.
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⚡ Fast updates – Never miss a golden entry
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.