USD/JPY is testing a zone that has repeatedly triggered major reversals. The next move could be decisive.
Intraday analysis covering USDJPY, XAGUSD hits another low, and SPX 500, highlighting recent price movements, key technical levels, and short-term momentum shifts across major markets. USDJPY hits another higher high The dollar remained bullish, hitting another fresh high as the rally continues.
USD/JPY Price Forecast: Climbs further beyond 160.00 as Mideast tensions undermine JPY
Looking at the 4-hour chart, the pair traded below a bullish trend line with support at 160.20. However, the bulls were active above 159.50.
USDJPY currency pair recently reversed down from the strong resistance level 160.50 (which has been reversing the price from the end of March).
The American currency moves higher as PPI increased by 1.1% in May.
Our previous outlook for USDJPY still stands, as the pair continues to test the 160.20–160.60 resistance zone. Traders are closely watching this area, as the last time the market reached it, the Bank of Japan warned about possible intervention to support the yen.
USD/JPY rose to 160.52 on Thursday, marking its highest level since July 2024. The Japanese yen remains under significant pressure despite a notable acceleration in Japan's producer price inflation.
USD/JPY Price Forecast: US Dollar holds above 160 as RSI nears overbought, BoJ risk looms
The American currency is losing ground as Inflation Rate increased from 3.8% to 4.2%.
The market enters today's US CPI print, facing building macro headwinds and energy shocks stemming from the ongoing Middle East conflict. Following a complete evaporation of Fed rate-cut bets for 2026, the market is aggressively positioned for a bear-flattening yield curve environment under Fed Chair Kevin Warsh.
Our previous outlook for USDJPY still stands, as the pair continues to test the 160.20–160.60 resistance zone. Traders are closely watching this area, as the last time the market reached it, the Bank of Japan warned about possible intervention to support the yen.