USD/JPY Bulls Tested Ahead of Trump

Japanese Yen Technical Forecast: USD/JPY Short-term Trade Levels

  • USD/JPY breaks January opening-range lows- threatens deeper correction within September uptrend
  • USD/JPY support in view ahead of Trump Inauguration, BoJ rate decision
  • Resistance 156.26, 157.19, 157.89-158.45 (key)- Support 154.34, 152.80s (key), 151.50/95

The US Dollar was down more than 1.7% against the Japanese Yen at the lows off the week with USD/JPY threatening a break of a multi-week range. The immediate focus is on this pullback with multi-month uptrend support in view ahead of the extended holiday break. Battle lines drawn on the USD/JPY short-term technical charts heading into the Presidential Inauguration and the BoJ next week.

Review my latest Weekly Strategy Webinar for an in-depth breakdown of this Yen setup and more. Join live on Monday’s at 8:30am EST.

Japanese Yen Price Chart – USD/JPY Daily

Japanese Yen Price ChartUSDJPY DailyUS Dollar v Yen Trade OutlookUSD JPY Technical Forecast1172025

Chart Prepared by Michael Boutros, Sr. Technical Strategist; USD/JPY on TradingView

Technical Outlook: In last month’s Japanese Yen Technical Forecast we noted that a rebound off technical support in USD/JPY was, “testing the first major resistance hurdle- looking for possible inflection here. From a trading standpoint, the focus is on a breakout of the weekly opening range (149.60-151.99) for guidance with the near-term recovery vulnerable while below the 200-day moving average.”

USD/JPY broke through resistance the following day with the rally extending nearly 6.9% off the December lows into key resistance at 157.89-158.45. A break of the January opening-range yesterday has already fallen more than 2.4% off the monthly high and the immediate focus is on this pullback towards uptrend support.

Japanese Yen Price Chart – USD/JPY 240min

Japanese Yen Price ChartUSDJPY 240minUS Dollar v Yen Trade OutlookUSD JPY Technical Forecast1172025

Chart Prepared by Michael Boutros, Sr. Technical Strategist; USD/JPY on TradingView

A closer look at Japanese Yen price action shows USD/JPY trading within the confines of a proposed descending pitchfork extending off the monthly high with price bounding off the median-line into the close of the week. Initial resistance is being tested now at the November high-close around 156.26 with near-term bearish invalidation set to the objective monthly / yearly open at 157.19. Ultimately, a breach /close above 158.45 is needed to mark uptrend resumption / fuel the next major leg of the advance towards the April high at 160.21.

Initial support rests with the November high-day close (HDC) / 23.6% retracement of the September advance at 154.32/34 and is backed by the lower parallel / 200-day moving average around 152.80s- both levels of interest for possible downside exhaustion / price inflection IF reached. Ultimately, a break / close below the 38.2% retracement / 2022 & 2023 highs at 151.50/95 would be needed to suggest a more significant high was registered last week / a lager trend reversal is underway.

Get our exclusive guide to USD/JPY trading in 2025

Bottom line: A break of the January opening-range threatens a deeper pullback within the multi-month advance. From a trading standpoint, losses should be limited to the 200-day moving average IF price is heading higher on this stretch with a breach / close above 158.45 needed to fuel the next major leg of the advance.

Keep in mind we are heading into an extended holiday weekend with the inauguration of President Trump and the Bank of Japan (BoJ) interest rate decision on tap next week. Stay nimble here and watch the weekly closes for guidance. Review my latest Japanese Yen Weekly Forecast for a closer look at the longer-term USD/JPY technical trade levels.

USD/JPY Key Economic Data Releases

US Japan Economic Calendar-USDJPY Data Releases-BoJ-USD JPY Trade Outlook-1-17-2025 

Economic Calendar – latest economic developments and upcoming event risk.

Active Short-term Technical Charts

— Written by Michael Boutros, Sr Technical Strategist

Follow Michael on X @MBForex



Source link

Visited 1 times, 1 visit(s) today

Related Article

AiTradeBtc

AiTradeBtc Strengthens AI Trading Infrastructure With Scalable Participation Options for Forex and Stock Traders.

AiTradeBtc AiTradeBtc is building within that reality. The platform’s AI trading bots are designed to handle strategy execution, real-time market monitoring, and risk management automatically, giving investors access to a fully managed, verified forex and stock trading environment without requiring prior experience or technical knowledge. London, UK, May 13, 2026 (GLOBE NEWSWIRE) — AI-Driven Quantitative

Gold Stands at the Back Foot as Dollar Benefits from Higher US Inflation

Gold Stands at the Back Foot as Dollar Benefits from Higher US Inflation

Gold holds in red for the second consecutive day, pressured by stronger dollar on growing uncertainty in the Middle East and sidelined expectations for potential Fed rate cuts, as inflation in the US rose further (both consumer and producer price index rose significantly in April). Fundamentals, however, show mixed signals as Fed is likely to

Crypto Influencers to Follow 2026

Crypto Influencers to Follow 2026

Facebook still gives traders a fast way to spot active market commentary, and the top 10 crypto traders on Facebook usually stand out through consistent analysis, public discussion, and an audience that keeps returning for updates. For readers trying to find useful crypto voices, the strongest pages tend to blend market insight with practical education,

EUR/AUD Mid-Day Outlook - ActionForex

EUR/AUD Mid-Day Outlook – ActionForex

Daily Pivots: (S1) 1.6169; (P) 1.6231; (R1) 1.6262; More… EUR/AUD’s fall from 1.6842 resumed after brief consolidations and intraday bias is back on the downside. Decisive break of 1.6125 will resume larger fall from 1.8554. Next target is 1.5913 fibonacci level. Nevertheless, break of 1.6293 resistance will indicate short term bottoming, and turn bias back

Snapper Creek Energy Expands Platform with Launch of Foreign Exchange Desk

Snapper Creek Energy Expands Platform with Launch of Foreign Exchange Desk

Tim Cunningham Joins Snapper Creek as Head of FX, Bringing Decades of Institutional Foreign Exchange Expertise New Desk Extends Snapper Creek’s Reach into Global Currency Markets, Serving the Same Institutional Client Base Across Energy and Financial Markets MIAMI, May 13, 2026–(BUSINESS WIRE)–Snapper Creek Energy (“Snapper Creek” or “SCE”), an innovative data-driven commodity brokerage specializing in

USD/JPY Continues to Climb Amid External and Domestic Pressures

USD/JPY Continues to Climb Amid External and Domestic Pressures

USD/JPY rose to 157.65 on Wednesday, marking a third consecutive day of gains. The yen came under pressure following stronger-than-expected US inflation data, reinforcing expectations that the Federal Reserve will maintain its hawkish stance. Market focus remains on the Bank of Japan. Following its April meeting, some policymakers signalled the possibility of a further rate

EUR/USD Revisits Support While USD/JPY Eyes Bigger Recovery Move

EUR/USD Revisits Support While USD/JPY Eyes Bigger Recovery Move

EUR/USD declined from 1.1800 and traded below 1.1750. USD/JPY is rising and might gain pace above 158.00 and 158.80. Important Takeaways for EUR/USD and USD/JPY Analysis Today The Euro started a fresh decline after a decent move to 1.1800. There was a break below a key bullish trend line with support at 1.1765 on the

WTI Crude Oil Signals Breakout, Momentum Points To Fresh Rally

WTI Crude Oil Signals Breakout, Momentum Points To Fresh Rally

Key Highlights WTI Crude Oil started a fresh increase above $98.00 and $100.00. It cleared a key bearish trend line with resistance at $99.20 on the 4-hour chart of XTI/USD. Gold is struggling to settle above the $4,760 and $4,780 resistance levels. EUR/USD failed to gain pace for a move above 1.1800. WTI Crude Oil

AriseAlpha Launches AI Trading Bot to Unlock Smarter Opportunities Across Bitcoin, Stock, and Forex Markets in 2026

AriseAlpha Launches AI Trading Bot to Unlock Smarter Opportunities Across Bitcoin, Stock, and Forex Markets in 2026

NEW YORK, May 12, 2026 (GLOBE NEWSWIRE) — As global financial markets grow more interconnected and fast-paced, investors are actively seeking intelligent tools to navigate opportunities across multiple asset classes. AriseAlpha today announced the launch of its free AI trading bot,  designed to unlock smarter automated opportunities in Bitcoin, stock, and forex markets. Rising Demand for Multi-Asset

USD/CHF Mid-Day Outlook - ActionForex

USD/CHF Mid-Day Outlook – ActionForex

Daily Pivots: (S1) 0.7759; (P) 0.7776; (R1) 0.7791; More…. USD/CHF’s rec continues today but stays below 0.7847 resistance. Intraday bias remains neutral and further decline is expected. On the downside, decisive break of 0.7760 will resume the whole decline form 0.8041, and target 100% projection of 0.8041 to 0.7774 from 0.7923 at 0.7656. However, firm

USD/JPY Mid-Day Outlook - ActionForex

USD/JPY Mid-Day Outlook – ActionForex

Daily Pivots: (S1) 156.63; (P) 156.94; (R1) 157.46; More… Intraday bias in USD/JPY stays neutral and outlook is unchanged. On the downside, below 156.41 minor support will bring retest of 155.01. Firm break there will resume the fall from 160.71 to 152.25 support next. On the upside, however, firm break of 157.92 will indicate that

Pound Weakens Amid Political Uncertainty. Forecast as of 12.05.2026 | LiteFinance

Pound Weakens Amid Political Uncertainty. Forecast as of 12.05.2026

2026.05.12 2026.05.12 Pound Weakens Amid Political Uncertainty. Forecast as of 12.05.2026 Dmitri Demidenkohttps://www.litefinance.org/blog/authors/dmitri-demidenko/ Keir Starmer’s position has been under threat for quite some time, but the Labour Party’s defeat in the local elections has only intensified speculation about a possible replacement of the prime minister. Rising political risks are weighing on the GBP/USD pair. Let’s

EUR/GBP Mid-Day Outlook - ActionForex

EUR/GBP Mid-Day Outlook – ActionForex

Daily Pivots: (S1) 0.8632; (P) 0.8651; (R1) 0.8673; More… EUR/GBP’s extended rebound and break of 0.8676 resistance suggests that fall from 0.8740 has completed at 0.8618 already. Intraday bias is back on the upside for 0.8740 first. Firm break there will target 0.8788 resistance next. For now, risk will stay on the upside as long

Short-Term Analysis for BTCUSD, XRPUSD, and ETHUSD for 12.05.2026 | LiteFinance

Short-Term Analysis for BTCUSD, XRPUSD, and ETHUSD for 12.05.2026

2026.05.12 2026.05.12 Short-Term Analysis for BTCUSD, XRPUSD, and ETHUSD for 12.05.2026 Roman Oneginhttps://www.litefinance.org/blog/authors/roman-onegin/ Dear readers, I’ve prepared a short-term forecast for Bitcoin, Ripple, and Ethereum based on Elliott Wave analysis. The article covers the following subjects: Major Takeaways BTCUSD: The final part of a bullish impulse continues developing. Consider long positions with a Take Profit at 83,132.33.

Technical Analysis of US Crude, XAUUSD, and EURUSD for Today (May 12, 2026)

Technical Analysis of US Crude, XAUUSD, and EURUSD for Today (May 12, 2026)

2026.05.12 2026.05.12 Short-Term Analysis for Oil, Gold, and EURUSD for 12.05.2026 Alex Rodionovhttps://www.litefinance.org/blog/authors/alex-rodionov/ Welcome, my fellow traders! I have prepared a price forecast for the USCrude, XAUUSD, and EURUSD using a combination of the margin zones method and technical analysis. Based on the market analysis, I suggest entry signals for intraday traders. Gold continues its

GBP/USD Slides Toward Trendline Support Below 1.3600

GBP/USD Slides Toward Trendline Support Below 1.3600

GBPUSD weakens within consolidation. Loses ground on US-Iran tensions, UK political pressure, US data in focus. Momentum indicators point to a modestly fading positive bias. GBPUSD is losing ground below the 1.3600 handle, eyeing support at the medium‑term ascending trendline. The pound is under pressure against the dollar amid domestic political uncertainty, lingering Middle East

Elliott Wave Outlook: Silver (XAGUSD) Five Wave Advance Signals Bullish Continuation

Elliott Wave Outlook: Silver (XAGUSD) Five Wave Advance Signals Bullish Continuation

The short‑term Elliott Wave view in Silver (XAGUSD) indicates a constructive bullish sequence after the break above the April 17 peak at 83.05. That move confirmed a higher‑high structure and reinforced the upward bias. From the April 30 low, the rally has unfolded as a five‑wave impulse, a classic Elliott Wave formation that often signals

0
Would love your thoughts, please comment.x
()
x