Chain of higher highs/higher lows, stalling below 162.50.
USDJPY remains in a multi-month uptrend off the February 157.5 area, holding above a rising EMA(50) throughout. Last week's push to 162.84 — a multi-decade high — rejected around the 162.50 intervention line and price has faded back to 161.73, slipping under the 161.75 pivot that had flipped from support to resistance. The pullback keeps the broader trend intact while capping the tape below the intervention zone.
Support: 160.63, 160.00
Resistance: 161.75, 162.50, 162.84
What it said to watch
Daily close above 162.50 re-enters the intervention trigger zone
Loss of 160.63 swing low would mark the first lower low; 160.00 round number below
US CPI Tue 12:30 UTC could materially shift the US-Japan rate-differential read
Higher highs and higher lows, rejection near 162.50.
Multi-week uptrend intact, price holding above a rising EM(50) since the early-April recovery off the 155.00 area, having tagged four-decade highs near 162.84. The tape stalled at the 162.50 psych level flagged as the de-facto intervention line, with the latest session rejecting from 162.43 back to 161.73 on a 115-pip range. Structure is still a chain of higher lows, but the last daily bar's failure to extend hints at cooling momentum near the highs.
Support: 161.30
Resistance: 162.50, 162.84
What it said to watch
Daily close above 162.50 pushes into the intervention trigger zone
Failure to hold 161.30 breaks the recent higher-low chain
US CPI Tue and BoJ Jul 31 could materially shift this read