USD/JPY technical analysis

Source: Dukascopy Bank SA
USD/JPY on the 4H chart remains in an overall uptrend, with price holding above the 100 SMA while recently bouncing from support around 155.75. The short-term 24 SMA is beginning to turn upward again, suggesting momentum may be shifting back in favor of buyers. Price is now approaching the 156.80–157.00 resistance zone, which previously rejected attempts to move higher.



A clear break above this area could open the way toward 158.50. If the pair fails to break the short-term moving average and falls back below 155.75, downside pressure could increase toward 155.00 and potentially 154.30 near the 100 SMA. Overall momentum is neutral to slightly bullish in the short term and remains bullish in the medium term unless price breaks below the longer-term moving average.
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