Higher lows since the late-March flush, retesting the 160 zone.
Quarter-long uptrend; USD/JPY reclaimed 160 over the past two weeks after the late-March flush to 155.03 and now sits above a rising EMA50. The recovery is a retest of the 160.40-160.75 band, which marks the April-30 intervention zone where two prior weekly attempts stalled. The firmer USD on hawkish-Fed repricing after Friday's NFP beat underpins the move, but price is pinned at the 160 line in the sand.
Support: 159.60, 158.80
Resistance: 160.40, 160.75, 161.20
What it said to watch
D1 close above 160.75 opens the path toward 161.20
Failure to hold 159.60 risks a pullback toward the 158.80 EMA50
BoJ June 16 and MoF intervention risk near 160 could materially shift this read
US CPI Wed 12:30 GMT is the next pivot for the USD leg
Higher highs/higher lows, re-test of April-30 intervention zone.
USDJPY has rebuilt a multi-month uptrend, holding above EMA(50) on D1 and grinding back to the 160 line after the late-March spike to 160.72 was sharply rejected in a single-day flush to 155.55. Price is now pinned at the April-30 intervention zone, supported by the wide UST/JGB spread but capped by MoF/BoJ intervention fear. The recovery from the 156.62 region has been a steady rounded base, with the 160.72 prior high the key ceiling overhead.
Support: 159.30, 156.62
Resistance: 160.72, 161.15
What it said to watch
D1 close above 160.72 opens the path toward 161.15-162
Verbal or actual MoF/BoJ intervention at the 160 line could trigger a sharp reversal toward 159.30
US CPI Wed and BoJ June 16 decision could materially shift this read
12:34 UTC
Uptrend, grinding into intervention zone · RSI 64 · price 159.968
Higher highs/higher lows, coiling below 160.
Multi-month uptrend, USDJPY has climbed from the 152.27 low in early February and now trades pinned against the 160.00 line, the official intervention threshold. Price holds well above a rising EMor(50), with Friday's 172K NFP beat reinforcing the firm-USD backdrop while the yen stays at its weak limit despite hawkish BoJ wage and GDP data. The last eight sessions are a tight grind between 159.59 and 160.39, a consolidation just under the round number.
Support: 159.59
Resistance: 160.39, 160.72
What it said to watch
Daily close above 160.39 extends the breakout toward 160.72
160.00 is the official intervention threshold — actual MoF action would force a sharp reversal toward 159.59
US CPI Wed and BoJ 16 Jun could materially shift this read
Loss of 159.59 confirms a lower-low and breaks the consolidation