USD/JPY Price Forecast: Rebounds towards 159.00 as bulls target 160.00
Rising oil prices provided additional support to the American currency as demand for safe-haven assets increased.
At the start of the trading week, a consistent indecision continues to be present in USDJPY price action in the short term. The pair has only recorded a variation of slightly less than 0.5% over the last two sessions, without a clear direction in the short term.
USD/JPY gains as US Dollar benefits from risk aversion, PMI data weigh
The pair hit a correction towards the target and support of 157.25-65 last week. The market is still holding a trading zone with resistances around 160.20 and 161.95 where each resistance could push for drop a toward the 157.25-65 zone.
USD/JPY Price Forecast: Rises to 158.75-158.80 area; 200-EMA on H4 holds the key for bulls
While the USD/JPY backdrop was treacherous in late-January and early-February, bulls came back in a big way over the past month and have continued to flirt with a massive line in the sand at the 160.00 handle.
USD/JPY Price Forecast: Bears defend 159.00, eye a close below 158.00
The American currency moved lower as President Trump said that Iran was negotiating with the U.S.
USD/JPY falls sharply as geopolitical easing weighs on US Dollar
USD/JPY Price Forecast: Approaches 160.00 as US Dollar gains amid Middle East war
Japanese Yen sticks to modest losses; USD/JPY looks to build on strength beyond 159.50