Chain of higher highs/higher lows, approaching 162.00.
USDJPY has trended higher for four months, climbing from ~155 in late February to 161.7 and holding well above a rising EMU(50) on D1 the entire way, supported by hawkish-Fed dollar carry against a structurally soft yen. The advance has tightened into a steady channel over the last three weeks, with price now pressing the 162.00 zone flagged for Tokyo intervention after a brief 161.93 high. Weekly cadence remains constructive but stretched as the pair magnetises to the multi-decade ceiling.
Support: 161.10
Resistance: 162.00, 161.93
What it said to watch
Tokyo CPI tonight 23:30 UTC — a hot print could trigger rejection off the 162.00 intervention zone
Sustained D1 close above 162.00 opens fresh multi-decade highs; sharp rejection caps the channel
Loss of 161.10 support breaks the near-term higher-low sequence
USDJPY has climbed in a steady multi-week uptrend, holding above a rising EMA(50) since the early-May base around 155.00 and printing higher lows into the 161.80 area. Rate-differential gravity from a hawkish Fed and soft yen keeps the pair magnetized to the 162.00 intervention zone, the 2024 high and the obvious cap. Price sits just under prior swing highs at 161.92 with momentum firm but not yet stretched on D1.
Support: 161.10
Resistance: 162.00, 161.92
What it said to watch
Tokyo CPI tonight 23:30 UTC could swing this read sharply either way
Sustained D1 close above 162.00 opens fresh multi-decade highs; sharp rejection there is the intervention scenario
Loss of 161.10 would break the rising-low sequence