The USD/JPY is flat but advanced steadily towards the 160.00 figure for the second time in 2024 and hit a two-month high of 159.93 before trimming some of earlier gains.
USD/JPY advances towards 160.00 for the second time in 2024. Momentum favors buyers with a bullish RSI, but risks of downward pressure remain. Key resistance levels are 160.00, YTD high at 160.32, further gains at 160.50 and 161.00. Key support levels are the day's low at 158.75, Tenkan-Sen at 157.82, Senkou Span A at 157.53, and Kijun-Sen at 157.24. The pair trades at 159.65, down some 0.10%, amid Japanese authority's verbal intervention.
Further gains are seen above 160.50 and at 161.00. On the other hand, if USD/JPY drops below the day's low of 158.75, that could pave the way for testing key support levels. Up next would be the Tenkan-Sen at 157.82, followed by the Senkou Span A at 157.53, ahead of the Kijun-Sen at 157.24. USD/JPY Price Action – Daily Chart USD/JPY Overview Today last price 159.66 Today Daily Change -0.16 Today Daily Change % -0.10 Today daily open 159.82 Trends Daily SMA20 157.15 Daily SMA50 156.
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