The USDJPY rate is gaining strength following a statement from the Bank of Japan's governor, with the price currently at 142.91. Discover more in our analysis for 3 June 2025.
USDJPY forecast: key trading points
- Bank of Japan Governor Kazuo Ueda’s statement increased pressure on the yen
- Most analysts expect the BoJ to keep the interest rate unchanged until September
- USDJPY forecast for 3 June 2025: 141.35
Fundamental analysis
The USDJPY rate rose on Tuesday after rebounding from the key support level at 142.20. Selling pressure has eased since the rebound, triggering a moderate price recovery. However, this upswing may only be a short-lived correction within a downtrend.
Additional pressure on the yen came from Bank of Japan Governor Kazuo Ueda, who stated that the central bank would only raise rates when confident in the sustained acceleration of economic and price growth. Currently, most analysts expect the rate to remain unchanged until September, although some predict a hike by the end of the year.
Investors are now focusing on upcoming US labour market data, particularly the weekly jobless claims report due later this week. This release could significantly influence the further movement of the USDJPY pair.
USDJPY technical analysis
The USDJPY rate continues to move within a descending channel, maintaining potential for further decline. The latest growth attempt stalled at the resistance level of 143.35. Today’s USDJPY forecast suggests a move lower towards 141.35. The Stochastic Oscillator confirms the bearish scenario, with the indicator is bouncing off a descending trendline, signalling ongoing selling pressure. The final downside signal will be a breakout below the key 142.20 support level, which would confirm seller dominance.
Summary
The USDJPY rate has bounced from the support level, yet the risk of further downside remains due to expectations that the Bank of Japan will hold rates steady and the upcoming US jobs data. USDJPY technical analysis points to a possible decline towards 141.35.
