The USDJPY rate fell below 152.00 after the release of Japan’s stronger-than-expected Q4 2024 GDP statistics. Find out more in our analysis for 17 February 2025.
USDJPY forecast: key trading points
- Market focus: Japan’s GDP grew by 0.7% quarter-on-quarter and 2.8% year-on-year in Q4 2024
- Current trend: the downtrend
- USDJPY forecast for 17 February 2025: 151.00 and 152.50
Fundamental analysis
Japan’s GDP statistics released during today’s Asian trading session were unexpectedly better than expected, with GDP growing by 0.7% quarter-on-quarter (projected at 0.3%) and 2.8% year-on-year (projected at 1.0%). The stronger-than-expected GDP growth supported the Japanese currency, pushing the USDJPY pair below 152.00.
The robust Q4 GDP data gives the Bank of Japan good grounds to continue its monetary policy tightening course. Market participants will now focus on the country’s inflation statistics for January, which are scheduled for release this Friday.
USDJPY technical analysis
On the H4 chart, the USDJPY pair is steadily declining, with the Alligator indicator confirming this momentum. The pair is trading in a descending price channel, and the price is now moving towards its lower boundary. The key support level is 151.00.
Today’s USDJPY forecast suggests that the pair could reverse upwards and rise to 153.70 if the bulls bring the price back to the area above the 152.50 resistance level. Conversely, if the bears retain the initiative, the pair could decline further to the 151.00-150.00 area.
Summary
The USDJPY price tumbled below 152.00 after Japan’s robust Q4 2024 GDP data. Market participants will now focus on the country’s inflation statistics for January.
