Market Analysis: USD/JPY Updates the High of the Year

FXOpen

As the USD/JPY chart shows, the Japanese currency exchange rate exceeded 138.8 yen per dollar this morning – the last time such a yen rate against the US dollar was fixed was in November 2022.

The USD/JPY peak was helped by statements from the Fed on Monday, signaling that monetary policy could remain tight for a long time to bring inflation back to the 2% target.

Based on the technical analysis of the USD/JPY pair, it is acceptable to assume that the rate may roll back, as the bulls are hindered by:

→ the presence of offers above the level of 138.0 is noticeable by the bearish candle on Friday;

→ approaching the psychological level of 140 yen per US dollar;

→ 50% level of decline from October 2022 peaks to January 2023 lows;

→ median line of the ascending channel (1).

Trade over 50 forex markets 24 hours a day with FXOpen. Take advantage of low commissions, deep liquidity, and spreads from 0.0 pips. Open your FXOpen account now or learn more about trading forex with FXOpen.

This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.

Stay ahead of the market!

Subscribe now to our mailing list and receive the latest market news and insights delivered directly to your inbox.

forex

Forex Trading with FXOpen

Forex Trading with FXOpen

Experience ECN technology for deep liquidity and light-speed trade execution

  • Access over 50 markets
  • Trade with spreads from 0.0 pips
  • Take advantage of commissions from $1.50/lot
Learn more

Latest articles

Shares

How Earnings Reporting Could Impact Netflix (NFLX) Share Price

Earnings season is gaining momentum. Today, after the close of the main trading session, Netflix (NFLX) is set to release its quarterly financial results.

Analysts are optimistic, forecasting earnings per share (EPS) of $7.08, up from $4.88 a

Commodities

XAU/USD Chart Analysis: Volatility at a Yearly Low

The daily chart of XAU/USD shows that the Average Directional Index (ADX) has reached its lowest level since the beginning of 2025, indicating a significant decline in gold price volatility.

Yesterday’s release of the US Producer Price Index

Forex Analysis

Pause in Dollar Rally: Weak Data and Powell Dismissal Rumours

Amid rising market volatility, the US dollar is losing ground: USD/JPY is correcting after a recent bullish impulse, while USD/CAD is retreating from the upper boundary of its medium-term sideways range. This corrective movement was triggered by disappointing

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 60% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.