USD/JPY is the forex ticker that shows the value of the US Dollar against the Japanese Yen. It tells traders how many Yen are needed to buy a US Dollar. The Dollar-Yen is one of the most traded forex pairs - second only to EUR/USD - and is a benchmark for Asian economic health and even the global economy. View the live Dollar-Yen rate with the USD/JPY chart and improve your technical and fundamental analysis with the latest USD/JPY forecast, news and analysis.
The Japanese Yen fails to lure buyers despite intervention fears and the risk-off impulse. The BoJ’s cautious outlook continues to undermine the JPY and lend support to USD/JPY. Reduced bets for a June Fed rate cut lift the USD to a multi-week top and act as a tailwind.
From a technical perspective, the range-bound price action witnessed over the past two weeks or so might still be categorized as a bullish consolidation phase against the backdrop of the recent rally from the March swing low. Moreover, oscillators on the daily chart are holding comfortably in the positive territory and have also eased from overbought conditions, suggesting that the path of least resistance for the USD/JPY pair is to the upside. That said, it will still be prudent to wait for a move beyond a multi-decade high, around the 152.00 mark set last week, before positioning for any further gains.
The Japanese Yen fails to lure buyers despite intervention fears and the risk-off impulse. The BoJ’s cautious outlook continues to undermine the JPY and lend support to USD/JPY. Reduced bets for a June Fed rate cut lift the USD to a multi-week top and act as a tailwind.
From a technical perspective, the range-bound price action witnessed over the past two weeks or so might still be categorized as a bullish consolidation phase against the backdrop of the recent rally from the March swing low. Moreover, oscillators on the daily chart are holding comfortably in the positive territory and have also eased from overbought conditions, suggesting that the path of least resistance for the USD/JPY pair is to the upside. That said, it will still be prudent to wait for a move beyond a multi-decade high, around the 152.00 mark set last week, before positioning for any further gains.
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