USD/JPY forecast: Bearish momentum builds as key US data looms.USD/JPY is tied to the US rate outlook, with long-term yields driving the pair. CPI, PPI, and retail sales are the releases to watch, along with Federal Reserve remarks.
USD/JPY forecast: signal points to a 6% as golden cross nears.The USD/JPY exchange rate rose to a multi-week high of 154.68 this week as investors moved to the US dollar following Donald Trump's election. It then pulled back slightly to 152.63 after the Federal Reserve delivered its interest rate cut.
U.S. Dollar Rebounds: Analysis For EUR/USD, GBP/USD, USD/CAD, USD/JPY.The better-than-expected Michigan Consumer Sentiment report provided support to the American currency.
USD/JPY Price Forecast: Pulls back to major trendline, uptrend still intact.USD/JPY has pulled back to support from a major trendline for the long-term uptrend at about 152.55. Despite the correction, the pair is in an uptrend on a short and medium-term basis and given the technical analysis dictum that “the trend is your friend” the odds still favor a recovery and eventual continuation higher.
USD/JPY – 08.11.2024.USDJPY still holds the uptrend wave where it managed to hit a 154.70 high two days ago. As we see on the chart, the market still faces the support zone of 1.5130-50, where as long as prices hold above it, the advance wave could expand toward 155.20 and 157.80.