USD/JPY remains pinned just below a pivotal resistance zone after extending its rally from the May lows. Momentum continues to favor the bulls, with daily RSI pushing into overbought territory for the first time in months, but the advance has begun to stall as price tests a key technical barrier.
USDJPY in the short term is still facing a resistance zone around 160.90-161.95 as the last time the market reached it, the Bank of Japan warned about possible intervention to support the yen. Traders should take Precautionary measures as the Bank Of Japan could intervene any time in the market.
Intraday analysis covering USDJPY Analysis , EURGBP , and US 30, highlighting recent price movements, key technical levels, and short-term momentum shifts across major markets. USDJPY remains bullish The USDJPY Analysis USDJPY Analysis shows The Japanese yen conceded more ground to the dollar, even though a slight pullback halted the bullish rally.
USD/JPY Price Forecast: Range tightens further at around 161.60
The American currency is moving higher as traders bet on hawkish Fed.
Japanese Yen: Steadies as USD/JPY rally tires – Scotiabank
Japanese yen weakness and USD/JPY breakout risks are back in focus as the currency pair tests major resistance near its 2024 highs. Michael Boutros, Senior Market Analyst at FOREX.com, examines the technical outlook for USD/JPY, the growing threat of Japanese intervention, extreme retail positioning, and why upcoming U.S. inflation data could determine whether the rally extends further.
USDJPY in the short term is still facing a resistance zone around 160.90-161.95 as the last time the market reached it, the Bank of Japan warned about possible intervention to support the yen. While the Japan Finance Minister Katayama announced today that they are ready to take strong action on speculative forex moves.
As USD/JPY marched crept closer to 2024's 38-year highs, traders knew they were entering territory where Tokyo becomes increasingly uncomfortable. That sensitivity was evident when Japan's Finance Minister Satsuki Katayama revealed she had held talks with U.S. Treasury Secretary Scott Bessent.
The USD continues to fight all others, as we are still being driven by the latest headlines coming out of the Middle East.
USDJPY in the short term is still facing a resistance zone around 160.90-161.95 as the last time the market reached it, the Bank of Japan warned about possible intervention to support the yen. While the Japan Finance Minister Katayama announced today that they are ready to take strong action on speculative forex moves.
Dollar breakout risks remain in focus as the US Dollar Index (DXY) approaches the critical 101 level, USDJPY holds above 161, and GBPUSD trades below a key multi-month support zone.