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USD/JPY holds near 159.6 as safe-haven demand offsets jitters

The yen stays under pressure with USD/JPY around 159.61, while mixed US housing and industrial data keep the bias modest and technical resistance sits near 159.69 to 159.73.

Reported · Written up by our desk · Major Pairs

The USD/JPY pair held modest gains near the 159.60 area on Tuesday, as FXStreet reported a mild safe-haven bid for the US dollar helped support the exchange rate after a recent pullback.

FXStreet linked the dollar’s resilience to heightened tensions around the Strait of Hormuz. In a social media post, US President Donald Trump said there are no scheduled talks with Iran and that a US naval blockade remains in full force, while Tehran has said the waterway will stay shut until Washington meets its conditions.

Market-moving economic signals were mixed for the United States. FXStreet noted Building Permits for July jumped to 1.443 million, while Housing Starts slipped to 1.239 million. It also cited Industrial Production rising 0.2%, slightly below the 0.3% consensus, and Pending Home Sales down 2.3%.

On the charts, USD/JPY was quoted at 159.61, maintaining a mild bullish tone as it holds above the 20-period Simple Moving Average near 159.38, with support clustered around 159.55 to 159.59. FXStreet said near-term resistance lies around the 100-period SMA near 159.69 and another level at 159.73.

Latest closeUSD/JPY 159.31 ▼0.1%

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