The USD/JPY currency pair is ending the trading week with gains within a bullish channel near the 157.85 area. Moving averages indicate a bullish trend. Prices have broken upwards through the area between the signal lines, indicating pressure from US dollar buyers and potential continued growth from current levels. Currently, we expect an attempt at a bearish price correction and a test of the support level near the 156.45 area. This should then lead to an upward rebound and continued growth above the 165.95 level.
USD/JPY Weekly Forecast January 19 – 23, 2026
An additional signal for the USD/JPY pair to rise this trading week will be a test of the bullish trendline on the relative strength indicator. A rebound from the lower boundary of the bullish channel will serve as a second signal. A decline and breakout of the 154.35 area would cancel out the USD/JPY uptrend this trading week (January 19-23, 2026). This would indicate a breakout of the support area and a continued decline in the Forex market below 151.25. A breakout of the resistance area and a price close above 159.85 would confirm an uptrend for the USD/JPY pair.
USD/JPY Weekly Forecast January 19 – 23, 2026 suggests an attempt at a bearish correction and a test of support near 156.45. From there, we should expect the pair to continue rising above 165.95. A test of the trendline on the relative strength indicator (RSI) would be an additional signal of upside. A decline and a break of 154.35 would invalidate the pair’s upward trend. This would indicate continued decline with a potential target below 151.25.
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