Before weekly trading began, markets reacted to the announcement that the U.S. and Iran had reached a framework deal to end the conflict. The reopening of the Strait of Hormuz and the easing of sanctions, allowing Iran to resume oil exports, pushed WTI sharply lower at the start of the week and helped lift equity markets.
USDJPY, EURJPY and GBPJPY remain exposed to further volatility as yen weakness persists, while the BOJ's slow tightening path keeps the rate gap wide against the Fed, ECB and BoE.
The American currency pulled back from yearly highs amid profit-taking.
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.
USDJPY is consolidating above 161 level on Friday after Thursday's fresh acceleration higher hit 161.80, just ticks under a four-decade peak at 161.95, posted in June 2024.
Intraday analysis covering USDJPY Analysis, AUDUSD, and NAS 100, highlighting recent price movements, key technical levels, and short-term momentum shifts across major markets. USDJPY soaring higher USDJPY analysis shows The US dollar continues its bull run after breaking the previous 160.60 resistance level.
Chart Analysis USD/JPY - 2026-06-19 07:06
Looking at the 4-hour chart, the pair settled above 160.00, the 100 simple moving average (red, 4-hour), and the 200 simple moving average (green, 4-hour). The current price action suggests that the pair could continue to rise.
USD/JPY has surged to fresh highs following the latest FOMC meeting, supported by rising US yields, a stronger US dollar and record short positioning against the Japanese yen. Yet with the pair trading around previous intervention levels, traders face a key question: is Japan's Ministry of Finance willing to intervene again, or will it allow market forces to dictate the next move?
The USD continued its run to the upside after the more hawkish Fed yesterday. The gains in the greenback were led by gains versus the GBP (+0.68%), the CHF (+0.56%) and the JPY (+0.47%).
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. So, the continued movement below this level could threaten a drop towards 157.00-50 and 152.00.
USD/JPY Price Forecast: Consolidates above 160.50, two-year high amid intervention risks