USD/JPY Price Forecast: Technical outlookThe overall trend remains downwards, despite the ongoing recovery that pushed the USD/JPY spot prices above the 200-day SMA. With that said, the path of least resistance favours further Yen strength, but a daily close above the 200-day SMA opens the door to challenge higher prices. On the other hand, if USD/JPY ends Thursday’s session below the 200-day SMA, it opens the door for another leg down. The next support would be the August 4 daily low of 157.18, before plunging to challenge the August 3 swing low of 155.23. USD/JPY Price Chart – DailyUSD/JPY daily chart