USDJPY remains near the 159 level after a strong two-week recovery rally.
Technically, the pair continues forming higher lows on the H4 chart while holding above EMA34 and EMA89, showing that buyers still control the short-term structure.
However, momentum is beginning to slow near the important 159.20 – 159.50 resistance zone, where strong selling pressure appeared previously.
The US dollar continues receiving support from high US bond yields and fading expectations for Fed rate cuts, which remains bullish for USDJPY.
Still, traders remain cautious about possible intervention from Japanese authorities if the pair approaches 160 too aggressively.
Technically, the pair continues forming higher lows on the H4 chart while holding above EMA34 and EMA89, showing that buyers still control the short-term structure.
However, momentum is beginning to slow near the important 159.20 – 159.50 resistance zone, where strong selling pressure appeared previously.
The US dollar continues receiving support from high US bond yields and fading expectations for Fed rate cuts, which remains bullish for USDJPY.
Still, traders remain cautious about possible intervention from Japanese authorities if the pair approaches 160 too aggressively.
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.