Yen to New 30-Year Highs 23 July 2026 As the US Dollar bid continues, USD/JPY has surged to highs not seen since 1990. The Yen continues its downward slide, placing further pressure on a currency that has already lost 4% of its value this year. USD/JPY on the Daily Timeframe With the asset in this basically all-time high territory, it becomes really difficult to expect any upside targets. Because of that, going along with the trend makes the most sense for now, and mostly looking to engage at areas of support, like the major high price left at 162.5-162.9. Any retest of this level down the line should see a relief bounce to some degree. However, traders should remain aware that any strong intervention from the Bank of Japan could override this support zone, acting as a price-insensitive seller in the market.