(function() { var didInit = false; function initMunchkin() { if(didInit === false) { didInit = true; Munchkin.init('105-GAR-921'); } } var s = document.createElement('script'); s.type = 'text/javascript'; s.defer = true; s.src = '//munchkin.marketo.net/munchkin.js'; s.onreadystatechange = function() { if (this.readyState == 'complete' || this.readyState == 'loaded') { initMunchkin(); } }; s.onload = initMunchkin; document.getElementsByTagName('head')[0].appendChild(s); })();(function(h,o,t,j,a,r){ h.hj=h.hj||function(){(h.hj.q=h.hj.q||[]).push(arguments)}; h._hjSettings={hjid:1422437,hjsv:6}; a=o.getElementsByTagName('head')[0]; r=o.createElement('script');r.defer=1; r.src=t+h._hjSettings.hjid+j+h._hjSettings.hjsv; a.appendChild(r); })(window,document,'https://static.hotjar.com/c/hotjar-','.js?sv=');

USD/JPY Builds On Its Rally As Further Gains Come Into View

Article background

Aayush Jindal

Key Highlights

  • USD/JPY started a fresh increase above the 159.00 resistance.
  • It now faces resistance near 160.00 on the 4-hour chart.
  • Bitcoin prices dipped further and tested the $70,000 support.
  • Gold failed to remain above $4,000 and trimmed gains.

USD/JPY Technical Analysis

The US Dollar remained supported above 157.50 against the Japanese Yen. USD/JPY formed a base and started a fresh increase above 158.00.

Looking at the 4-hour chart, the pair cleared many hurdles, including a contracting triangle with resistance at 158.50. More importantly, there was a close above 159.00, the 100 simple moving average (red, 4-hour), and the 200 simple moving average (green, 4-hour).

The pair traded as high as 160.04 and is now consolidating gains. If there is another increase, the pair could face resistance near 160.20. The first major resistance might be 160.65.

The main resistance could be 161.25. A close above 161.25 could push the pair further higher. In the stated case, the pair might revisit the key hurdle at 162.00. If there is a downside correction, the pair might find support near the 159.50 level and the 23.6% Fib retracement level of the upward move from the 157.67 swing low to the 160.04 high.

The first major support might be 158.85. A close below 158.85 might put some pressure on the bulls. In the stated case, the pair might drop to the 100 simple moving average (red, 4-hour) at 158.20.

Looking at Gold, the bears remained active near $4,120 and pushed the price back below the $4,000 pivot level.

Upcoming Key Economic Events:

  • US Producer Price Index for Oct 2026 (MoM) – Forecast +0.4%, versus +1.3% previous.
  • US Producer Price Index for Oct 2026 (YoY) – Forecast +6.6%, versus +6.3% previous.
  • Fed's Bowman speech.
  • Fed's Daly speech.
Excellent
Google Reviews
Open a Live accountOpen a Demo account
Loading