The currency pair remains near a two-week high but struggles to break above the 50% Fibonacci retracement level amid a softer USD.
The USD/JPY pair trades with a slight negative bias below the mid-159.00s during Friday’s Asian session, though it stays close to a nearly two-week high reached earlier. Resistance at the 159.50 level, aligned with the 50% Fibonacci retracement, caps further upside as the USD shows weakness.
Prior to this, the pair had tested multi-week highs but failed to sustain momentum above key technical levels. Market participants remain cautious ahead of potential shifts in U.S. monetary policy or Japanese intervention risks.
No immediate market reaction was reported, with traders awaiting further cues on USD strength or JPY volatility.