USD/JPY returns above 159.00 with Iran's peace deal on tenterhooks
USD/JPY remains rangebound between 158 and 160, with upside pressure building toward 160.40 as yield differentials continue to favor the US dollar.
USD/JPY is still extending consolidations below 160.45 and intraday bias stays neutral. Further rise is expected as long as 157.49 cluster support (38.2% retracement of 152.25 to 160.45 at 157.31) holds.
The US Dollar found support at 157.85 and started a fresh increase against the Japanese Yen. USD/JPY traded above 158.40 to enter a positive zone.
USD/JPY Price Forecast: Head-and-shoulders signals downside risk
The American currency is losing ground as demand for safe-haven assets declines.
USD/JPY Price analysis: PCE inflation and resilient US data reinforce USD strength
The pair managed again to hit another correction while still facing the support zone of 157.25-65, which could hold prices inside this trading zone toward resistances 160.20 or 161.95. Above 161.95 the market could enter a new uptrend wave with first target toward 163.80.
USD/JPY Price Forecast: Remains below 159.00 as bulls stay cautious amid softer USD demand
USD/JPY holds firm on Fed tone and yields, while BOJ and intervention risks cap upside.
USDJPY currency pair recently reversed down from the strong resistance level 160.00 (which has been reversing the price from March) standing close to the upper daily Bollinger Band.
USD/JPY tests 158.00 as ceasefire saps safe-haven demand