The pair rises over 0.32% to surpass its 20-day moving average, signaling renewed upward momentum in forex markets.
USD/JPY climbed past the 158.00 mark on Thursday, advancing more than 0.32% as buyers pushed the pair above its 20-day Simple Moving Average at 158.23. The rally targets the 50-day SMA at 158.75, a key resistance level.
The move follows a period of consolidation, with the pair previously struggling to sustain gains above 158.00. Analysts note the 50-day SMA has acted as a pivot point in recent weeks, with breaks above or below influencing short-term trends.
Market participants are monitoring the pair closely for potential intervention risks, given its proximity to multi-decade highs.