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
The return of USD/JPY as a rates play has coincided with a sharp turn in the US rate outlook, with markets moving from pricing cuts to the risk of a hike. With that shift being driven by energy and geopolitical developments, it points to a market regime that remains reactive rather than settled.
The American currency is moving higher as traders focus on Middle East tensions and bet on hawkish Fed.
USD/JPY remains bullish overall, but the 160 level is still a major barrier, with pullbacks likely to find support near 158 and 156 before another breakout attempt.
USD/JPY rebounds as US Dollar strengthens, BoJ hawkishness tempers upside potential
USD/JPY Price Forecast: 20-day EMA acts as key support zone around 157.50
Looking at the 4-hour chart, the pair traded below a bullish trend line with support at 158.85. The pair even dipped below 158.00 and tested the 100 simple moving average (red, 4-hour).
USD/JPY slides back below 158.00 on broad Yen strength