The currency pair consolidates in a tight range with support at 160.40 and potential upside toward 163.70-164.40.
USD/JPY remains range-bound after failing to break resistance at 162.80 for a second time. The pair is trading in a narrow band, with key support at 160.40 linked to the March peak.
Analysts note upside projections toward 163.70-164.40 if the resistance level is breached. The current consolidation follows repeated attempts to extend gains beyond 162.80.
No immediate market reaction was specified, but the pair’s stability suggests cautious positioning ahead of further moves.