21:02 UTC
Uptrend, steady grind higher · RSI 71 · price 162.664
Chain of higher highs and higher lows, fresh 40-yr highs.
Multi-month uptrend intact, USDJPY grinding to fresh 40-year highs on the wide US-Japan yield gap; price has held above a rising EMemtsA(50) since the recovery off the late-March flash low near 155.03. The last three weeks have been a controlled step higher from 160.55 into 162.66, with RSI now stretched near 70. The advance is pressing the 162.84 marker with 165 the widely cited intervention 'line in the sand'.
Support: 160.55
Resistance: 162.84
What it said to watch
- Push through 162.84 opens the path toward the 165 line-in-sand region
- Friday 12:30 UTC US NFP is the near-term yield catalyst and could shift the carry-driven read
- Intervention/short-covering headlines near 40-yr highs are the primary reversal risk; loss of 160.55 would break the recent higher-low sequence