Economic Calendar
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USD/JPY hourly chart analysis
Recovering from the 155.00 support, USD/JPY shows bullish momentum, but the rally is currently capped by the 200 SMA, near 157.00. A confirmed breakout above this dynamic resistance targets 157.63, while a rejection could force a retest of support at 156.26. With the RSI near 60 still showing room for upside, the key trigger for traders is a decisive hourly close above the 200 SMA barrier to confirm the trend continuation.Hourly Chart
USD/JPY daily candle chart analysis
USD/JPY pair is exhibiting a robust long-term bullish trend, evidenced by the price trading well above all major Moving Averages, with the 50 SMA blue line at 153.59 serving as the primary medium-term support while the 100 green and 200 red SMAs trail significantly lower at 150.67 and 148.15 respectively. The market is currently in a consolidation phase, testing a critical resistance zone marked by the dashed red line at 157.10, and a decisive daily close above this ceiling would likely signal a continuation of the rally toward the 158.00 handle and potentially the psychological 160.00 mark. Conversely, should the price fail to break this resistance, a mean-reversion pullback toward the structural support at 153.56 aligning with the 50 SMA is a plausible scenario that traders might view as a buying opportunity within the broader uptrend, but as long as the price sustains above these key averages, the dominant momentum remains bullish.
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Traders sentiment mixed
Continuing previous trend, USD/JPY has no clear directional bias because it has been locked in a long-term sideways range on the daily chart, although directional momentum in the near term may provide way in the near term.