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USD/JPY edges higher as intervention pullback impact fades
USD/JPY last traded near 157.6 after slipping toward 155 on Monday, with the 200-day SMA around 158 capping rebounds.
FXStreet said USD/JPY is trading modestly higher on Tuesday despite a softer US Dollar, as the impact of recent intervention fades and the yen comes under renewed pressure. The pair is around 157.60, after briefly falling toward 155 on Monday, its lowest level since May 6.
The outlet pointed to a damaged near term bullish structure, with USD/JPY slipping below key moving averages. On the daily chart, the 200-day Simple Moving Average near 158 is described as immediate resistance, followed by the 100-day SMA around 160 and then the 50-day SMA near 161.26.
FXStreet also cited momentum indicators, noting the Relative Strength Index at 27 signals oversold conditions, while the MACD remains below zero. On the downside, the 155.00 psychological level is flagged as near-term support, where a decisive break could open the way toward 152.50, with 150.00 described as the next major downside target.
Latest closeUSD/JPY 157.38 ▼1.8%