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USD/JPY Rally Could Extend – Bulls Eye Fresh Gains Amid Momentum

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Aayush Jindal

Key Highlights

  • USD/JPY rallied above 150.50 and 152.00.
  • The pair could aim for more gains if it clears the 153.20 resistance on the 4-hour chart.
  • EUR/USD extended losses below 1.1620 and 1.1600.
  • GBP/USD is also moving lower below the 1.3450 pivot level.

USD/JPY Technical Analysis

The US Dollar started a fresh surge above 150.00 against the Japanese Yen. USD/JPY cleared many hurdles near 150.50, 151.20, and 152.00.

Looking at the 4-hour chart, the pair climbed above 153.00 before the bears appeared. The pair started a short-term consolidation phase and corrected some pips. On the downside, there is key support at 152.50.

The next area of interest might be near the 23.6% Fib retracement level of the upward move from the 146.58 swing low to the 153.22 high. The main support could be 150.00.

Any more losses might increase selling pressure and send the pair toward the 100 simple moving average (red, 4-hour) and the 200 simple moving average (green, 4-hour) at 148.20. It is close to the 76.4% Fib retracement level of the upward move from the 146.58 swing low to the 153.22 high.

To start a decent increase, USD/JPY must settle above 153.20. The main hurdle could be 153.80. A close above 153.80 could start a steady increase to 155.00.

Looking at EUR/USD, the pair faced an increase in selling pressure, resulting in a drop below the 1.1620 support zone.

Upcoming Key Economic Events:

  • Michigan Consumer Sentiment Index for Oct 2025 (Prelim) – Forecast 54.2, versus 55.1 previous.
  • Canada’s Employment Change for Sep 2025 – Forecast 5K, versus -65.5K previous.
  • Canada’s Unemployment Rate for Sep 2025 - Forecast 7.2%, versus 7.1% previous.
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