The currency pair tests resistance after rebounding from last week’s lows, with buyers eyeing a break above 159.12.
USDJPY is testing the 200-hour moving average at 159.12 after recovering from a dip below the 200-day moving average near 158.33 last week. Buyers failed to sustain momentum below 157.96, allowing a rebound toward shorter-term averages.
The pair initially stalled at the 100-hour moving average (158.91) before pushing higher. A sustained break above 159.12 would shift short-term bias bullish, targeting 159.60 and 159.75. Failure to hold could see a retreat toward 158.91.
Current trading near 159.17 suggests buyers may attempt another push, but momentum remains unproven above key resistance levels.