💹USD/JPY Strongest Seasonal Window Ends In Early April: Cable FX Macro

• The USD/JPY is flashing bullish seasonal signals from here to April, both present among the highest win rate ratios in the calendar year. In fact, the January to April period is the strongest seasonal window for the dollar to rise against the yen, looking back at the past 20 years. The upside is supported by fiscal year-end demand.

• The pair has been in a clear ascending channel since mid-February lows (~154–155 zone), printing higher highs and higher lows. Momentum remains upward despite recent hesitation near key resistance. This aligns with broader USD strength and limited JPY safe-haven bid amid oil/geopolitical volatility.

• Risks are coming from both sides of the equation as we're set to hear from the Fed and the BoJ this week. If you'd like to stay away from dollar exposure, then know that the strong seasonal pattern is shared among most JPY crosses.