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USD/JPY holds near 157.30 amid consolidation under 50-day EMA

FXStreet said USD/JPY sits below the 50-day EMA at 158.02, with the pair’s next potential test at the triangle’s upper resistance near 158.90.

Reported · Written up by our desk · Major Pairs

USD/JPY is slipping after posting minor gains the prior day, trading around 157.30 during Asian hours on Tuesday, according to FXStreet.

The outlet said the pair is staying within a symmetrical triangle, a setup it links to consolidation and balanced momentum, with neither buyers nor sellers in clear control.

FXStreet also noted a mildly bearish near-term bias because USD/JPY is below the 50-day exponential moving average while holding just above the nine-day EMA, with the 14-day RSI at 49.84.

It added that the pair could first test the 50-day EMA at 158.02, meet resistance near 158.90 at the triangle’s upper boundary, and that a break above the triangle could open the door to the region around a nearly 40-year high near 163.

Latest closeUSD/JPY 157.84 ▼0.3%

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