FX.co ★ Kemie | USD/JPY

USDJPY Price Forecast: There is ongoing discussion about the USD/JPY price movement. Further declines are expected for the USD/JPY, with a possible correction to 158.91 before resuming the downtrend. A downward breakout of 157.85 is highly likely, indicating continued selling pressure. A recent surge to 159.15 is also likely. A correction to 158.66 has already occurred, and the downtrend is continuing. A breakout to 157.85 and stabilization at this level would be a strong sell signal. The price briefly rose to 159.20, but the downtrend is likely to continue after this correction. On the intraday chart, the downtrend is likely to reverse within the next four hours, potentially reversing recent gains. This could push the USD/JPY up to 155.66. A small zigzag pattern forming just above 156.66 could trigger new selling pressure, potentially leading to a larger decline toward 153.86.

The overall downtrend has driven prices higher, with buyers once again outpacing sellers. Prices are nearing their daily highs, and the dollar is supported by easing concerns about the U.S. economy following the interest rate cut. However, this upward momentum could soon fade. The recent strong uptrend has already triggered a significant correction, and a retest of the 159.06-159.16 area on the daily chart has encountered selling resistance. This suggests that upward momentum may weaken, and if USD/JPY buying fails to resume, bears may capitalize on this opportunity. Resistance could form at this level, which could act as a catalyst for further selling. A close below this level by the end of next week would solidify the resistance, reestablishing bearish momentum led by sellers and potentially leading to a retest of the 151.97-150.97 range.