US Dollar Index Holds Its Uptrend While the Yen Cracks First

The US dollar index is holding the long-term uptrend support that shaped its 2026 climb, while USD/JPY slips below its own trendline first.

FOREX.com Market Analyst Razan Hilal breaks down the technical picture across the US dollar index and USD/JPY, and what could tip each one next. Hilal works through what stretched, oversold momentum tends to signal at long-term trend support, and why hawkish central bank expectations and geopolitical risk have underpinned dollar strength.

The read also weighs how a potential US-Iran peace deal could unwind risk premiums and turn the trend, and what a confirmed dollar shift would mean for major currency pairs and precious metals.

This content was created by an affiliate of FOREX.com and represents the views and opinions of the author/speakers, not the views and opinions of Forex.com, StoneX Group Inc., or its subsidiaries. The content has not been independently reviewed by Forex.com.

X: @Rh_waves

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