USD/JPY Technical analysis

Note: This section contains information in English only.
Source: Dukascopy Bank SA
USD/JPY on the 4-hour chart has been trending strongly upward for about a month. The price has been forming higher highs and higher lows, which is a classic bullish structure. It is currently trading above both the 24-period SMA and the 100-period SMA. The 24 SMA is acting as short-term support and the price is moving just above it, showing strong momentum. The 100 SMA is much lower, which confirms that the longer-term trend is also bullish and strengthening as the gap between the two averages grows.

Right now the pair is testing a key resistance around 158.50. If the price clearly breaks above this level and holds there, the next likely target is the psychological level near 160.00. If it cannot break through, the market may move sideways between roughly 157.00 and 158.50 while traders decide the next direction.



If the price starts to fall, the first important support area is around 156.23 near the 100 SMA. A deeper drop could bring the pair toward 155.00, which is a major psychological level. The broader bullish structure would only be seriously threatened if price fell all the way down near 152.00.

The RSI is around 62, which is bullish but not overbought. However, the indicator is flattening slightly while price pushes higher. That suggests momentum is slowing a bit as the pair reaches resistance, meaning buyers are still in control but not as strong as before.

Overall the trend still favors the upside, but buying directly at the 158.50 resistance can be risky. Many traders prefer to wait for either a confirmed breakout and retest of that level, or a small pullback toward the 24 SMA before entering.
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