Previous Page

USD/JPY Weekly Forecast: Bull Retake the Driving Seat

AnalyticsTrade Team
AnalyticsTrade Team Last updated on 10 Sep 2023
Category: USD/JPY
USD/JPY Weekly Forecast

Table of Contents

USD/JPY Weekly Forecast

USD/JPY Weekly Forecast

Main Points:

  1. US dollar experiences fluctuations amid market uncertainty but closes the week strongly.
  2. Wild week for USD against JPY with fluctuations but potential support at 142.50 level.
  3. US interest rates, higher than Japanese rates, likely to keep USD strong against JPY.

USD/JPY – Weekly Market Overview

The US dollar embarked on a roller-coaster journey against the Japanese yen during the week, reflecting market uncertainty. However, it concluded the week on a robust note, hinting at potential upward momentum. While the dollar exhibited considerable fluctuations, it is worth monitoring its performance closely.

Market Dynamics and Support Level

Despite the week’s volatility, the USD/JPY pair demonstrated resilience by bouncing back from a significant drop on Friday. The 142.50 level below serves as a key support, bolstering the US dollar’s position. The anticipation of continued strength in the dollar can be attributed to the prevailing scenario of higher US interest rates compared to Japanese rates, which fuels demand for the dollar.

USD/JPY Technical Analysis and Milestones

From a technical perspective, a breakthrough beyond the 147.50 level could propel the dollar higher, with the possibility of reaching the pivotal 150 level. The 150 level holds fundamental significance and should be closely monitored for potential market shifts. Further gains are plausible if the dollar manages to surpass this critical threshold.

Comparison Table: Key Indicators

Indicator Observation
Market Volatility Fluctuations
Market Sentiment Bullish
Fundamental Analysis US-Japan Interest Rate Differential
Technical Indicators Strong Uptrend

Stay Informed for Forex Insights

For comprehensive forex technical analysis, trading strategies, and market insights, explore our collection of forex articles. Stay well-informed to make savvy trading decisions.

Do you like the post? Share it now:

AnalyticsTrade Team

AnalyticsTrade Team

🎉 Introducing AnalyticsTrade's exceptional team of expert analysts! 🌟 These seasoned pros have been dominating the capital market, trading a diverse range of assets for more than 15 years! 📈💹 Get ready to level up your game with our top-notch, captivating resources in the capital market! 🚀📚 Wishing all you incredible forex traders the best of luck and massive success! 💰🔥

Was this article helpful?


You must login to comment.

Thank You for Contacting Us!

Your email has been successfully submitted and we will get in touch with you shortly