USD/JPY: forecast for Oct. 30 - Nov. 3

Higher US yields helped the US dollar to strengthen versus the Japanese yen during the past week.

The Bank of Japan will meet on Tuesday. No changes in its monetary policy are expected. As a result, main drivers for USD/JPY will once again come from the United States. Traders are waiting for Donald Trump to name a candidate for the position of the Federal Reserve’s next chief. US GDP growth in the third quarter turned out to be higher than expected – 3% vs. the forecast of 2.6%. In addition, there will be a lot of news releases in America.

USD/JPY failed to get much higher during the past week. Resistance at 114.30 limited the upside, but at the same time it managed to stay above support at 113.50. Next support is at 112.80 and 111.70. Further dynamics will depend on how the pair breaks out of this range. Technical outlook is between neutral and positive. The pair has lost the previous bullish momentum, but the technical setup is still positive. Above 114.30 we’ll focus on 115.00 and 115.50.

Similar

Jackson Hole, Gold, and Powell | Market News
Jackson Hole, Gold, and Powell | Market News

The gold has made a perfect retest, but will it hold against the rising dollar? Also, the Jackson Hole Symposium and Jerome Powell's speech may become critical for most assets, and finally, more economic releases and earnings reports await you.

Latest news

FOMC Meeting, Gold Plunge, and Pound Decrease | Market News
FOMC Meeting, Gold Plunge, and Pound Decrease | Market News

Although the last week was intense, this one may be more dynamic and volatile. After the FOMC meeting and controversial decisions from the Bank of England, we saw a historical pound decrease, and the gold plunge. And there’s even more for you.

Deposit with your local payment systems

Data collection notice

FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Next callback request for this phone number
will be available in

If you have an urgent issue please contact us via
Live chat

Internal error. Please try again later

Don’t waste your time – keep track of how NFP affects the US dollar and profit!

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera