FX.co ★ USD/JPY

Analysis and forecast for the USDJPY currency pair based on technical analysis After a fairly significant decline this week, the US dollar vs Japanese yen currency pair was preferably moving within an ascending channel, but on Friday this channel was broken by a sharp impulse, and now the situation looks such that starting from Monday the pair may again head south and might even update its lows. So if nothing unexpected happens at the market open, then somewhere around the 158 level one can try opening short positions. And if everything develops favorably for the bears, we may well even drop to the round level of 155. However, globally I am in no hurry to change my bias and I believe that gradually the USDJPY currency pair will recoup its decline and strive toward its historical highs. Another matter is that this process is not fast, so a small local decline with a renewal of the lows does not spoil it too much. If the price returns above the 158 level right from the start of the week, then a bullish scenario from the current levels can be considered, and the channel breakout will most likely turn out to be false.