The currency pair rebounds toward critical resistance after holding above a multi-month ascending trend line and 200-day moving average.
USD/JPY has recovered after defending a multi-month ascending trend line and its 200-day moving average near 155. The pair is now approaching the April high of 160.50/160.70, a key resistance level for traders.
The rebound follows a period of consolidation, with the 200-day moving average acting as a technical support. Analysts view the 160.50 level as pivotal for the pair’s next directional move.
No immediate market reaction was specified, but traders are closely monitoring price action near the resistance band.