USD/JPY Price Forecast: Is the One-Year Uptrend Still Valid?

The one-year uptrend on the USD/JPY chart continues to hold, supported by sustained dollar strength, even as BOJ tightening expectations increase.

Following the BOJ’s Summary of Opinions, Japanese government bond yields surged to their highest levels since 1999, approaching 2.6%, while US 10-year and 2-year Treasury yields climbed to yearly highs above 4%.