The USD/JPY pair recovered on Friday, climbing back above the 153.00 mark as renewed demand for the US Dollar signaled a potential continuation of the broader uptrend.
Thursday’s 100-pip (0.68%) decline was quickly erased, supported by steady yields on the US 10-year Treasury note, which remains closely tied to the pair’s movement. The rebound reflects sustained market confidence in the greenback amid expectations that the Federal Reserve will maintain higher-for-longer interest rates.
Technical outlook
The technical setup for USD/JPY shows that bullish momentum returned near the 153.00 area, with immediate support now seen at the 20-day simple moving average (SMA) at 152.52. Although buyers managed to prevent a drop below 152.80, a break beneath this level could expose the 20-day SMA, followed by the October 29 low at 151.53.
Momentum indicators continue to favor the upside. The relative strength index (RSI) remains in positive territory, suggesting that buyers retain control. If the pair pushes above 154.00, resistance is expected at the November 4 high of 154.48, with the psychological 155.00 level coming into view as the next key target for bulls.
