USDJPY is in a multi-month uptrend, printing higher highs and higher lows since the April flush to 155.50 and holding well above a rising EMorderly climb through June carried it to a 40-year high at 162.84 last week, with the pair now pressing that ceiling near 162.50. The move reflects the wide US-Japan rate gap and dovish BoJ backdrop; a single 161.11 close broke the rhythm but was quickly reclaimed.
Support: 161.00
Resistance: 162.84, 163.00, 165.00
What it said to watch
Daily close above 162.84 opens the path to the 163.00 psych level and 165.00 extension
Failure to hold the 161.00 swing low would mark the first lower low since April
MoF/BoJ intervention risk is elevated at these levels and could force a sharp reversal
US CPI Tue Jul 14 could materially shift the dollar leg of this read
21:02 UTC
Uptrend, near multi-decade highs · RSI 66 · price 162.502
Higher highs and higher lows since April.
USDJPY grinds through a multi-month uptrend, holding above a rising EMA(50) since the April rebound off 155.00 and now pressing 40-year highs near 162.84. The advance reflects the wide US-Japan rate gap and dovish BoJ backdrop; a sharp single-day flush from 162.60 to 160.48 in late June was fully recovered within two sessions. Price consolidates just under the 162.84 prior high after four largely constructive weeks.
Support: 161.00, 160.48
Resistance: 162.84, 163.00, 165.00
What it said to watch
Daily close above 162.84/163.00 opens the path toward the 165.00 extension
Failure to hold 161.00 (ema pivot) would break the higher-low sequence
Intervention headlines from MoF/BoJ could sharply reverse this read given stretched positioning