The USD/JPY currency pair is ending the trading week on an upward note, hovering near the 157.93 level. Moving averages point to a bullish trend. Prices are currently testing the area between the signal lines, indicating pressure from US dollar buyers and the potential for continued gains from current levels. In the near term, we can expect an attempt to push prices higher, testing the resistance area near 158.45. This would likely be followed by a downward rebound, with the pair then declining toward levels below 150.45.
USD/JPY Weekly Forecast October 19 – 23, 2026
An additional signal supporting a decline in the USD/JPY pair this week would be a rejection from the resistance line on the Relative Strength Index (RSI). A second signal would be a rebound from the lower boundary of a “Head and Shoulders” reversal pattern. The bearish outlook for the USD/JPY pair for the week of October 19–23, 2026, would be invalidated by a strong rally and a breakout above the 160.45 area. Such a development would signal a breach of the resistance zone and point to further upside for the pair, potentially reaching levels above 163.25. A decline in the USD/JPY pair will be confirmed if the price breaks through the support area and closes below the 156.45 level, signaling the onset of a pattern pointing toward lower targets.
USD/JPY Weekly Forecast October 19 – 23, 2026 suggests an attempt at a bullish correction, with a test of the resistance level near 158.45. From there, the pair is expected to resume its decline toward the area below 150.45. An additional signal supporting a downward move would be a test of the trend line on the Relative Strength Index (RSI) indicator. This bearish scenario would be invalidated by a strong rally that breaks through the 160.45 level, which would indicate a continued uptrend with a potential target above the 163.25 area.
