21:01 UTC
Uptrend, momentum stalling near range top · RSI 54 · price 159.57
Higher lows from late-Jan, capped by 160.40-160.70 supply.
Recovery from the late-January 152.20 low has built a chain of higher lows, with price reclaiming both EMAs by mid-Feb and trending higher into the 160 handle. The 160.40-160.72 zone has rejected twice, most sharply on the long upper-wick day in late April that dropped price 500 pips to 155.50 in a single session, since absorbed. Last two weeks have compressed into a tight 158.50-159.60 coil just under the range top.
Support: 158.50, 156.40, 152.20
Resistance: 160.40, 160.72
What it said to watch
- Daily close above 160.72 invalidates the range top read
- Loss of 158.50 reopens the 156.40 swing low
- JPY strength continuing on US-Iran truce headlines could pressure the range floor
- Tokyo CPI overnight may add JPY volatility