The USD/JPY currency pair is ending the trading week with a decline, hovering near the 157.48 level. Moving averages point to an ongoing bullish trend. Prices are currently re-testing the area between the signal lines, indicating pressure from US dollar buyers and the potential for a resumption of the upward trend from current levels. In the near term, we should expect an attempt to push prices higher, testing the resistance level near 157.85, followed by a downward rebound and a decline toward levels below 153.75.
USDJPY Weekly Forecast November 2 – 6, 2026
An additional signal supporting a decline in the USD/JPY pair this week would be a rebound off the resistance line on the Relative Strength Index (RSI). A second signal would be a rebound from the upper boundary of a descending channel. The bearish scenario for the USD/JPY pair during the week of November 2–6, 2026, would be invalidated by a strong rally and a breakout above the 160.15 area; such a move would signify a breach of resistance and a continuation of the pair’s ascent toward levels above 163.35. A confirmation of the decline in the USD/JPY pair would be a breakdown of the support area, with the price closing below the 155.85 level—a move that would signal a breach of the lower boundary of the bullish channel.
USDJPY Weekly Forecast November 2 – 6, 2026 suggests an attempt at a bullish correction, with a test of the resistance level near the 157.85 area. From there, the pair is expected to resume its decline toward levels below 153.75. A test of the trend line on the Relative Strength Index (RSI) indicator would serve as an additional signal supporting this downward movement. This bearish scenario would be invalidated by a strong rally and a breakout above the 160.15 level, which would signal a continued uptrend with a potential target above the 163.35 area.
