#USD *USD/JPY Approaches Key Resistance as Uptrend Gains Momentum*
_U.S. Dollar / Japanese Yen Technical Analysis_
USD/JPY is climbing steadily after bouncing from mid-May lows, and now sits just below a major resistance zone around 160.
What the Chart Shows
- *Recovery in Play*: After dropping to 155.57 on May 7, the pair reversed and has been forming higher highs and higher lows. Price is now at 159.04, trading near the top of the range.
- *Key Resistance Zone*: 159.256 to 160.884, highlighted in red. This area previously capped upside moves. A break above 160.209 would confirm a bullish breakout.
- *Key Support Zone*: 155.641 to 155.573, highlighted in blue. This is the recent swing low and the level that would invalidate the current uptrend if broken.
What It Means
The steady climb from 156 to 159 shows buyers are in control for now. If USD/JPY breaks and holds above 160.209, the next targets are 160.737 and 160.884. That would open the door for a retest of the 161.00 level.
On the flip side, rejection at 159.256 could trigger a pullback toward 158.50 and 157.50. The 155.57 low remains the line in the sand for bulls.
Bottom Line
USD/JPY is at a decision point. A close above 160.20 favors more upside, while failure here likely means more range-bound trading between 155.60 and 160.80.