USD/JPY has seen recovery from the recent 156.000 lows, recovering towards 159.000.
Import-export data may play an important role in FX market volatility this week.
USD/JPY hourly chart analysis
The USD/JPY hourly chart reveals a highly structured, steady ascending channel that complements the daily bullish momentum, with price action grinding consistently higher to its current level of 159.126. Buyers are firmly in control in the short term, maintaining a series of higher highs and higher lows while keeping price well above both an ascending trendline and the rising 100-hour SMA (158.398), which serves as immediate dynamic support. A recent minor consolidation over the past session appears to be resolving to the upside as the current candle presses back toward the session highs.Hourly Chart
USD/JPY daily candle chart analysis
USD/JPY daily chart shows a recovery with five consecutive bullish candles driving the price to 159.128, targeting a retest of the critical 160.000 psychological barrier and the late-April peak at 161.000. The broader bullish structure remains firmly intact as buyers aggressively defended the upward-sloping 100-day SMA (157.413) and the key structural support floor between 156.000 and 156.500. Momentum strongly favors the bulls, supported by a MACD histogram that is rapidly shrinking its negative bars and priming the signal lines for a bullish crossover deep below the zero line; expect a continuation toward 160.000.
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Traders sentiment
USD/JPY sentiment is primarily bearish.