USD/JPY Technical Analysis

The US dollar initially fell a bit against the Japanese yen but turned around to show signs of life. After the BOJ announcement, which really wasn’t much of an announcement, we are sitting right around the 200-day EMA, and we are in the middle of this consolidation area that we have been in for some time.

The 146 level on the bottom is support. The 149 level on the top is resistance. If we can break above the 149 yen level, then I think we really start to take off towards the 151 yen level. All things being equal, this is a market that I do think you favor the upside, not necessarily the downside, but we are still very bound.

AUD/USD Technical Analysis

The Australian dollar continues to fall and now looks a lot like the euro. Are we going to reenter the previous consolidation area? I don’t think it’s necessarily a market that you need to sell right away, but it certainly doesn’t look strong. We’ll just have to wait and see. The 0.67 level was important back in October of 2024 and it has shown itself to be important again. That being said, this is a market that I think is still one that you need to be a little bit cautious with, but ultimately, I am starting to become more neutral again, and this may have been just a bunch of noise. Again, I think the market will probably think about this over the weekend, and then we have to make a bigger move.

For a look at all of today’s economic events, check out our economic calendar.

• The USD/JPY price analysis shows increasing pressure within the Bank of Japan to hike interest rates.
• BoJ policymakers Hajime Takata and Naoki were ready to hike interest rates.
• The dollar continued its recovery after the Fed meeting.

The USD/JPY price analysis shows increasing pressure within the Bank of Japan to hike interest rates, which briefly boosted the yen on Friday. However, dollar strength after the expected Fed rate cut soon undid the gains in the yen.

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The Bank of Japan on Friday kept interest rates steady as expected. However, policymakers Hajime Takata and Naoki Tamura voted against the move. Instead, they were ready to hike interest rates by 25-bps. The dissent came as a surprise to many and led to a rally in the yen.

“The dissent from Takata and Tamura highlights growing hawkish pressure inside the BOJ,” said Charu Chanana, Chief Investment Strategist at Saxo.

“While the majority still favour a steady path, the presence of two board members voting against today’s decision suggests the debate is tilting toward quicker normalisation.”

However, the yen rally was brief, as the dollar continued its recovery after the Fed meeting. The central bank kept interest rates unchanged and signaled more to come. However, Powell also emphasized that they would keep monitoring inflation risks.

USD/JPY key events today

Traders are not looking forward to any key releases from Japan or the US. Therefore, they will keep absorbing policy decisions.

USD/JPY technical price analysis: Bears give up after false breakout

On the technical side, the USD/JPY price is back in its range after a false bearish breakout. It trades above the 30-SMA, with the RSI above 50, suggesting bulls are currently in the lead. Therefore, the price will likely soon climb to retest the range resistance.

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USD/JPY has maintained its sideways move between the 146.50 support and the 149.00 resistance. However, bears recently attempted to break out of this consolidation. The price briefly dipped below the range support but was quickly rejected. As a result, it made a large bottom wick and pulled back into the range.

Afterwards, bulls took over by pushing the price above the 30-SMA. With bulls in the lead, the price will soon challenge the range resistance. If it holds firm, the sideways move will continue. On the other hand, a breakout would likely start a bullish trend.

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Platinum price remains under the effect of the sideways track, due to the continuation of the main indicators’ contradiction, especially by stochastic reach to 50 level, which forces it to delay the bullish attack and hold near the moving average 55 at $1382.00 level.

The stability of the price above the support at $1355.00 is important for confirming the continuation of the positivity, to keep waiting for gathering the positive momentum, to ease the mission of surpassing $1400.00 level, then begin recording the targets at $1422.00 and $1435.00.

The expected trading range for today is between $1370.00 and $1422.00

Trend forecast: Bullish

The EURJPY pair formed new bullish rally, to record the initial extra target at 174.25, then bounced quickly to retest the breached barrier, which represents a new support at 173.40.

The suggested scenario depends on the stability of the current support, as the price stability makes us expect renewing the bullish attempts to target new positive stations that begin at 175.20, while facing negative pressures and reaching below this support will increase the chances for activating the bearish correctional track again, which forces it to suffer some losses by reaching 172.80, followed by the support of the bullish channel at 171.15.

The expected trading range for today is between 173.40 and 175.20

Trend forecast: Bullish

• The GBP/USD outlook suggests mounting worries about the UK’s fiscal health.
• The UK public sector borrowed 83.8 billion pounds between April and August.
• The Bank of England kept interest rates on hold in the previous session.

The GBP/USD outlook suggests mounting worries about the UK’s fiscal health after data revealed a bigger-than-expected surge in public borrowing. Meanwhile, the dollar continued its recovery after the Fed cut rates as expected and said it would keep assessing inflation risks.

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Data on Friday revealed that the UK public sector borrowed 83.8 billion pounds between April and August. The figure beat forecasts by 11.4 billion and raised concerns about a growing debt burden. It also puts additional pressure on Finance Minister Rachel Reeves to create a budget that appeases investors.

“The pound has sunk on this data, and is testing support at $1.35. It is the second-worst performing currency in the G10 FX space today,” XTB research director Kathleen Brooks said.

Meanwhile, the Bank of England kept interest rates on hold in the previous session. The central bank is facing a difficult challenge of balancing growth and inflation, which remains too high.

On the other hand, the Fed lowered borrowing costs on Wednesday as expected, but maintained that it would keep assessing inflation risks. As a result, the dollar has recovered from its lows, further weighing on the pound.

GBP/USD key events today

Market participants do not expect any high-impact economic releases from the UK or the US. Therefore, they will keep digesting key policy decisions.

GBP/USD technical outlook: Bears take charge below 30-SMA

On the technical side, the GBP/USD price trades well below the 30-SMA with the RSI on the verge of dipping into the oversold region. The bearish bias strengthened after the price broke below the 30-SMA and the 1.3575 key support level. However, bears must confirm the new trend by respecting the 30-SMA as resistance.

The previous bullish trend had developed well, respecting the 30-SMA as support and making higher highs and lows. However, this changed when the price briefly punctured the 1.3701 resistance and was rejected. The large top wick was a sign that bears had gained momentum. They confirmed this by pushing below the 30-SMA.

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If the new downtrend continues, GBP/USD will get a chance to retest the 1.3350 support level. A break below this level would solidify the bearish bias.

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Created on September 19, 2025

• The US dollar has rallied a bit against the Japanese yen during the trading session here on Thursday as we have broken above the 50 day EMA.
• The market is currently between the 200 day EMA and the 50 day EMA indicators. And it is in the middle of a consolidation area that has been very well defined.
• With the 146 yen level offering support and the 149 level above offering resistance, this is a market that I think continues to see a lot of back and forth.

But keep in mind that we have the Bank of Japan meeting early on Friday, so pretty much anything’s possible. I believe at this point in time, this is a market that stays in this range, but you never know, the Japanese could do or say something that rattles the markets.

If We Break Out

If we can break above the 149 yen level, then the implied move is to the 152 yen level. But I do think that the 151 yen level probably offers a little bit of resistance as well based upon that huge wipeout candle that got us down into this range to begin with.

If we were to break down below the bottom of the hammer from the session on Wednesday, that would be an extraordinarily negative turn of events probably opening up a move to the 144 yen level. Ultimately though, you get paid to hang on to this pair to the upside, even though the FOMC cut rates. And that of course is something that people will have to keep in mind.

A lot of people are attracted to an investment opportunity. So, with all of that being said, I still lean to the upside here, but I recognize the next 24 hours probably are going to be noisy.

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Christopher Lewis has been trading Forex and has over 20 years experience in financial markets. Chris has been a regular contributor to Daily Forex since the early days of the site. He writes about Forex for several online publications, including FX Empire, Investing.com, and his own site, aptly named The Trader Guy. Chris favours technical analysis methods to identify his trades and likes to trade equity indices and commodities as well as Forex. He favours a longer-term trading style, and his trades often last for days or weeks.