The USDJPY pair consolidates as markets anticipate monetary decisions and US trade statements, with the price currently at 148.23. Find out more in our analysis for 29 July 2025.
USDJPY forecast: key trading points
- Market participants focus on the upcoming Bank of Japan meeting, where rates are expected to remain unchanged
- The BoJ decision reflects uncertainty about the impact of new US tariffs on Japan’s economy
- USDJPY forecast for 29 July 2025: 149.85
Fundamental analysis
The USDJPY rate is correcting after a three-day rally, approaching the key resistance level of 148.90. The US dollar remains supported by market sentiment that the latest global trade deals disproportionately benefit the US economy.
Another factor came from President Donald Trump’s Monday statement: he warned that countries refusing bilateral talks with the US could face 15-20% tariff increases, significantly higher than the 10% rate introduced in April.
Domestically, market attention turns to the upcoming Bank of Japan meeting. The central bank is expected to hold interest rates steady, given the lingering uncertainty about how the new US tariffs may affect Japan’s economy.
USDJPY technical analysis
Despite a bearish correction, the USDJPY rate remains within the ascending channel. At this stage, the price could correct further towards the 147.80 support level before resuming its upward momentum.
Today’s USDJPY forecast suggests a rebound from the support level and a move towards 149.85. The Stochastic Oscillator supports this scenario: the indicator has exited overbought territory, while remaining within the uptrend, indicating a short-term correction before a renewed upward impulse.
Another bullish signal would be a sustained price position above 147.70.
Summary
The fundamental outlook for USDJPY remains moderately favourable for the US dollar, increasing the likelihood of a renewed upward momentum following the current correction. USDJPY technical analysis also points to further growth towards the 149.85 level.
Source: Roboforex
