USDJPY Price Forecast – US Dollars Stable Against the Japanese Yen

US Dollar vs Japanese Yen Technical Analysis

The US dollar has gone back and forth during the trading session on Tuesday, as we continue to see a lot of choppiness in the Forex markets. The US dollar continues to strengthen against the Japanese yen overall, as the Bank of Japan continues to do everything they can to keep interest rates down. This is a situation where they are essentially “printing yen”, which of course means that they are flooding the market with currency.

On pullbacks, you should see plenty of support in various areas, especially near the ¥147.50 level. After there, then you have the ¥145 level come into the picture. That should be a massive support level as well, so with that being the case it’s likely that we will see a lot of buying pressure in the general vicinity.

The 50-Day EMA will of course have something to say as well, which is just below that level. All things being equal, this is a market that I think is in an uptrend for multiple reasons, and not just the Bank of Japan. After all, the Federal Reserve will continue to tight monetary policy, so it does make a certain amount of sense that we would see the US dollar continue to attract attention.

The Bank of Japan continues to intervene from time to time, and it’s worth noting that we could get a major move lower in the short term, but that has proved to be fruitless for the Bank of Japan, so it is difficult to imagine that they are going to continue to be as aggressive as they have been.

USD/JPY Price Forecast Video for 26.10.22

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