Higher highs / higher lows since April low, consolidating below 162.84.
Multi-month uptrend, price holding above a rising EMA(50) since the early-April washout to 155.03 and pushing to four-decade highs near 162.84 on the wide US-Japan rate gap and firm oil weighing on JPY. The last eight sessions have consolidated in a tight 161.3-162.6 band just below the high, with the 161.7 area holding as demand. Escalating verbal intervention warnings have so far failed to move price.
Support: 161.30
Resistance: 162.84, 163.00
What it said to watch
Daily close above 162.84/163.00 opens fresh cycle highs but invites intervention risk
Loss of 161.30 swing low would mark the first lower low since April
Japan National CPI Thu 23:30 UTC and next week's BoJ hold could reshape this read
USDJPY has trended higher since the early-April low near 155.0, printing a steady HH/HL chain with price holding above a rising EMU(50) throughout. The advance has stalled the last two weeks just under the 162.84 four-decade high, consolidating in a tight 161.7–162.8 band as the wide US-Japan rate gap and firm oil keep the yen pinned. Momentum is cooling with RSI mid-range rather than overbought, reflecting the grind rather than fresh acceleration.
Support: 161.28
Resistance: 162.84, 163.00
What it said to watch
D1 close above 162.84 opens the path toward 163.00
Failure to hold 161.28 breaks the higher-low chain
Japan National CPI Thu could reprice the rate-gap trade
Any actual BoJ/MoF intervention near 162.84 risks a sharp squeeze lower