USD/JPY Price Forecast: Consolidated Within The 148.00-149.50 Range


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  • The USD/JPY currency pair edged higher on Friday, as it traded within a range of 148.00-149.50 while US 10-year yields rose to 4.104%.
  • Momentum favored buyers, as a break above the 149.50 mark exposed the key 150.00 level, and resistance was seen at the 200/100-DMA confluence at the 151.20/21 area.
  • A drop below the 149.00 level could lead to a pullback toward the Oct. 8 swing low of 147.35.
  • The USD/JPY currency pair edged higher during the North American session on Friday. Meanwhile, US Treasury yields remained high, particularly the 10-year T-note, which rose to 4.104%. The positive correlation between the US 10-year yield and the currency pair pushed the exchange rate to 149.13, up 0.37%.

    USD/JPY Price Forecast: Technical Outlook
    The USD/JPY pair appeared to still be neutrally-biased, though it was seen trading in a higher range within the 148.00-149.50 area, as traders mulled over the Fed and the Bank of Japan’s next move.From a momentum standpoint, buyers remained in charge, yet the Relative Strength Index (RSI) hadn’t yet reached a new peak to push USD/JPY prices higher.If the USD/JPY cross manages to clear the 149.50 mark in the coming days, such a move would immediately expose the 150.00 figure. Once removed, the next resistance would be the confluence of the 200- and 100-day moving averages at the 151.20/21 area.Conversely, if the pair drops below the 149.00 figure, traders could look for a pullback toward the Oct. 8 swing low of 147.35.

    USD/JPY Price Action – Daily Chart


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