The USDJPY has moved higher, supported by rising US yields and a more bullish technical backdrop.
Earlier in the session, the pair found solid support during the early European trading hours when the price stalled against the rising 100-hour moving average. Holding that level reinforced its importance as a key support point. The moving average currently comes in at 158.00 (158.008)—a technically important level and a psychologically round number. A move back below that level would be needed to shift the short-term bias back toward the downside, but for now buyers remain in control.
On the topside, the pair is testing Monday’s high at 158.894. The price has already reached 158.86, just shy of that level. Both Monday’s high and today’s high sit near the highest levels seen since January 2025, making this area an important resistance zone.
A break above 158.894 would open the door for a test of the January highs at 159.217 and 159.447. Clearing those levels would push USDJPY to its highest levels since July 2024.
For now, buyers maintain control, with the focus squarely on a break above Monday’s high and a potential run toward the January peak levels.
This article was written by Greg Michalowski at investinglive.com.
