USDJPY continues to attract buying interest as traders favour the US Dollar against the Japanese Yen. Strong US economic data and reduced expectations for Fed rate cuts have helped maintain bullish sentiment across the pair.
At the same time, the Bank of Japan has shown little urgency to tighten policy aggressively, keeping yield differentials supportive for further upside in USDJPY.
Price is now approaching a key resistance zone around 160.50–160.60. A breakout from this area could trigger another bullish extension.
Trade Setup:
Buy Zone: 160.05 – 160.25
Stop Loss: 159.50
Take Profit 1: 160.60
Take Profit 2: 160.90
Take Profit 3: 161.30
The bullish outlook remains valid while price holds above the 160.00 psychological level and the H4 moving averages continue to trend higher.
At the same time, the Bank of Japan has shown little urgency to tighten policy aggressively, keeping yield differentials supportive for further upside in USDJPY.
Price is now approaching a key resistance zone around 160.50–160.60. A breakout from this area could trigger another bullish extension.
Trade Setup:
Buy Zone: 160.05 – 160.25
Stop Loss: 159.50
Take Profit 1: 160.60
Take Profit 2: 160.90
Take Profit 3: 161.30
The bullish outlook remains valid while price holds above the 160.00 psychological level and the H4 moving averages continue to trend higher.
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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.
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.