USD/JPY Technical Update

Source: Dukascopy Bank SA
The USD/JPY pair is correcting after a recent high near 158.00. It's now trading around 155.10, below the 23.6% retracement at 155.90, which is acting as resistance. Key support is at the 38.2% level, 154.68, where buyers are stepping in. Holding above 154.68 and reclaiming 155.90 could resume the uptrend toward 158.00. A daily close below 154.68 may push the pair down to 153.66.



In the near term, USD/JPY may trade between 154.68 support and 155.90 resistance. A bounce from 154.68 could offer buying opportunities targeting 155.90–158.00. Conversely, a break below 154.68 may trigger further selling toward 153.66. Traders should watch daily closes for confirmation before taking positions.
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