This website uses cookies
We use cookies to target and personalize content and ads, to provide social media features and to analyse our traffic. We also share information about your use of our site with our social media, advertising and analytics partners who may combine it with other information that you've provided to them and that they've collected from your use of their services. You consent to our cookies if you continue to use this website. Learn more
Allow Disallow
Sign InOpen an account
  2. Market analysis
  3. Currencies
  4. USDJPY forecast: the pair is trading near the daily support level at 148.60

USDJPY forecast: the pair is trading near the daily support level at 148.60

Recent posts
    27.02.2025

    The USDJPY rate remains under pressure, falling to the 148.60-149.00 support area. Market participants are awaiting US GDP statistics today. Discover more in our analysis for 27 February 2025.

    USDJPY forecast: key trading points

    • Market focus: US GDP statistics for Q4 2024 will be released during the American session today
    • Current trend: trending downwards
    • USDJPY forecast for 27 February 2025: 150.00 and 148.60

    Fundamental analysis

    The USDJPY quotes are consolidating near a strong support level at 148.60, hitting a three-month low. Market participants expect the Bank of Japan to continue to raise the benchmark interest rate this year following an unexpected uptick in inflation in Q4 2024.

    US GDP data for Q4 2024 will be published today, with the economy expected to grow by 2.3%. Weaker-than-forecast statistics will put pressure on the USD, pushing the USDJPY pair lower. Conversely, stronger-than-expected growth will support the US dollar, potentially driving up the pair.

    USDJPY technical analysis

    The USDJPY H4 chart shows a steady downtrend, which is confirmed by the Alligator indicator. The pair is trading in a descending price channel, with the price currently hovering at its lower boundary. The key support level is at 148.60.

    The USDJPY forecast for today suggests that the pair will have the potential to correct towards the 151.00 resistance level if the bulls bring the quotes back to the area above 150.00. However, the price could decline to 146.50 if the bears retain the initiative and overcome the 148.60-149.00 support area.

    USDJPY technical analysis
    Risk Warning: the result of previous trading operations do not guarantee the same results in the future

    Summary

    The USDJPY pair fell to a three-month low in the 148.60-149.00 support area. The market will focus on US GDP statistics for Q4 2024 today.

    Back
    Attention!

    Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.