{"id":110091,"date":"2025-01-02T23:02:55","date_gmt":"2025-01-02T19:02:55","guid":{"rendered":"https:\/\/noortrends.ae\/en\/?p=110091"},"modified":"2025-01-02T23:09:10","modified_gmt":"2025-01-02T19:09:10","slug":"usd-jpy-forecast-bullish-momentum-gains-traction","status":"publish","type":"post","link":"https:\/\/noortrends.ae\/en\/usd-jpy-forecast-bullish-momentum-gains-traction\/01\/02\/market-updates\/","title":{"rendered":"USD\/JPY Forecast: Bullish Momentum Gains Traction"},"content":{"rendered":"\n<p>The USD\/JPY currency pair surged towards its December high, driven by a confluence of factors. Expectations of a prolonged period of higher interest rates in the United States, fueled by the potential for a Trump presidency, underpinned the US Dollar. The Federal Reserve, in its December statement, signaled a more cautious approach to interest rate cuts, further bolstering the Greenback.<br><br>Weakening economic data from China added to the risk-off sentiment, further benefiting the safe-haven US Dollar. The Caixin Manufacturing PMI for December came in below expectations, indicating a slowdown in the Chinese economy.<br><br><strong>Technical Analysis Points to Further Upside<br><\/strong><br>From a technical perspective, the USD\/JPY exhibited a bullish bias, forming higher highs and higher lows on a daily timeframe. A decisive break above the December high of 157.92 would open the door for further gains towards the weekly high of 158.85 and potentially even the 2024 peak of 161.95.<br><br>Support levels lie at the recent intraday low, followed by the key 200-day Simple Moving Average (SMA) at 152.29. A breach below the December low of 148.63 could signal a shift in momentum, potentially leading to a decline towards the 2024 low of 139.57.<br>The 4-hour chart showed a rising Relative Strength Index (RSI), suggesting further upside potential in the near term.<br> <br>The USD\/JPY currency pair is poised for further gains, supported by a hawkish Federal Reserve stance, a weakening global economic outlook, and a bullish technical picture. While the potential for a Trump presidency adds to the uncertainty, the overall trend appears to favor USD strength against the Japanese Yen.<br><br><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The USD\/JPY currency pair surged towards its December high, driven by a confluence of factors. Expectations of a prolonged period of higher interest rates in the United States, fueled by the potential for a Trump presidency, underpinned the US Dollar. The Federal Reserve, in its December statement, signaled a more cautious approach to interest rate &hellip;<\/p>\n","protected":false},"author":13,"featured_media":44195,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[37,36],"tags":[7167],"class_list":["post-110091","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-forex-markets","category-market-updates","tag-yen"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/110091","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=110091"}],"version-history":[{"count":2,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/110091\/revisions"}],"predecessor-version":[{"id":110098,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/110091\/revisions\/110098"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/44195"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=110091"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=110091"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=110091"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}