The USD/JPY staged a recovery on Friday, with buyers reclaiming the 153.00 level. This move suggests that the uptrend might resume in the short term.
Thursday’s 100-pip (0.68%) loss was offset as traders bought the US Dollar, largely influenced by its close correlation with the US 10-year Treasury note yield, which remained steady throughout the trading day.
**USD/JPY Price Forecast: Technical Outlook**
The technical outlook for USD/JPY shows that buyers regained momentum around the 153.00 mark. The next support level is seen at the 20-day Simple Moving Average (SMA) at 152.52. While buyers managed to prevent the exchange rate from falling below 152.80, a break beneath this level could open the door toward the 20-day SMA. If weakness continues, the next support lies at the October 29 low of 151.53.
Despite these potential dips, buyers remain in control, as indicated by the Relative Strength Index (RSI). On the upside, if USD/JPY rises above 154.00, the next resistance levels to watch will be the November 4 peak at 154.48, followed by 155.00.
*USD/JPY Price Chart – Daily*
https://bitcoinethereumnews.com/finance/rebounds-above-153-00-as-buyers-stepped-in/
