The currency pair rises over 0.3% after surpassing key moving averages, nearing levels that may trigger Japanese authorities’ action.
USD/JPY climbed past 158.00 and the 20-day Simple Moving Average at 158.23, gaining more than 0.32% as buyers target the 50-day SMA at 158.75. The pair has posted higher highs for four consecutive trading days, signaling bullish momentum.
The Relative Strength Index (RSI) has moved above the 50-neutral level, reinforcing upward pressure. Resistance lies at the 50-day SMA, ahead of the 159.00 mark, a threshold closely watched by traders for potential Bank of Japan intervention.
A drop below 158.00 could see support at the 100-day SMA of 157.43, with further downside targeting 157.00 and the May 6 low of 155.03.