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USDJPY holds between key 200-day and hourly moving-average levels

Traders will watch for a break below the 200-day moving average at 158.313, which could extend declines toward 157.979 and 157.25, while a move above the 159.154 area targets 159.60 and then 160.00.

Reported · Written up by our desk · Major Pairs

USDJPY is trading within defined technical guardrails that set the range for the rest of the session and into next week, according to Forexlive. The 200-day moving average near 158.313 is acting as the lower boundary, while the 100- and 200-hour moving averages, around 159.04 to 159.15, are capping the upside.

Forexlive said the pair’s intraday low stalled just ahead of the 200-day moving average, with a low around 158.35 before buyers pushed USDJPY back higher. That rebound has brought the exchange rate back toward the day’s high area and toward the same region that has been used by sellers near the hourly moving averages.

On the downside, Forexlive noted that if USDJPY breaks below 158.313 into the close, traders would look toward the swing area near 157.979, with further downside risk toward 157.25. On the upside, a break above the 159.154 200-hour moving average would shift the technical bias toward the 50% midpoint near 159.60.

Forexlive added that levels above 159.60 could be tested toward 160.00, where multiple technical measures converge, including the 100-day moving average near 159.983. It framed the 160.00 area as a natural round-number target that traders are likely to monitor for the next directional move.

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