USD/JPY Outlook: Potential Upside Beyond 145.00, Range Trading Likely

USD/JPY Outlook: Potential Upside Beyond 145.00, Range Trading Likely

The US Dollar (USD) appears poised for further gains against the Japanese Yen (JPY), with USD/JPY trading close to the psychological 145.00 level. A break above this figure could see short-term upward momentum, although the key resistance zone near 145.50 remains formidable.

Key Technical Outlook

• USD/JPY is currently supported above 143.00
• Upside room remains, with initial target at 145.00
• Strong resistance is noted at 145.50, where price may stall
• Longer-term outlook suggests a trading range between 143.00 and 145.50

Fundamental Backdrop

The US Dollar remains supported by steady Treasury yields and firm expectations that the Federal Reserve will hold interest rates higher for longer. Meanwhile, the Japanese Yen remains under pressure due to the Bank of Japan's ultra-loose monetary policy, making the yen less attractive in yield-sensitive market conditions.

Conclusion: Rangebound with Upside Bias

While a break above 145.00 is plausible in the near term, further gains may be capped at 145.50 unless fresh catalysts emerge. Traders should be prepared for rangebound movement with volatility near key levels.

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