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USD/JPY hovers near 159.60 resistance as traders watch key support zones
The pair is holding above 157.5, with a breakout above 160.6 flagged as a trigger for a potential move toward 162.0, while losses below 158.0 could open the door to 157.2.
The US dollar stayed supported versus the Japanese yen, with USD/JPY holding above 157.50 as it faces a major hurdle near 159.60, which is framed as a breakout zone.
Technical levels on the 4-hour chart show the pair settling above 158.80, along with the 100 simple moving average and 200 simple moving average. The outlook calls for possible gains if price clears resistance near 159.60, with further resistance noted around 160.60 and a higher target range that includes 162.00 and 163.20.
On the downside, the analysis points to support near 158.80 and a bullish trend line supported around 158.90. If USD/JPY breaks below 158.00 and closes under it, the next downside markers are 157.20 and 156.40.
Separately, the same market outlook links momentum in WTI crude oil to the USD/JPY setup, saying crude bulls are active while prices remain above 80.00 and could aim for a fresh increase.
Latest closeWTI crude $81.58 ▼0.9%|USD/JPY 159.15 ▼0.1%