USD/JPY Holds Steady Above 158.00: Is 160.00 Within Reach?
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Currently, USD/JPY has retreated from its multi-month highs but remains steady above the 158.00 level during Tuesday’s Asian trading session.
Support for the pair comes from ongoing uncertainty about when the Bank of Japan (BoJ) will raise interest rates again and the broad recovery of the US dollar. The greenback rebounded after Monday’s sell-off caused by speculation around Trump’s tariff policies, keeping USD/JPY firm ahead of the upcoming US labor market data.
Further bullish moves could encounter resistance near the 158.00 zone or the recent multi-month high. A sustained breakout above these levels would likely energize bullish traders, opening the door to additional gains. USD/JPY could then aim for the 158.45 intermediate hurdle, reclaiming the 159.00 mark, and possibly targeting the psychological 160.00 level. If the momentum holds, the pair could even test the upper boundary of the long-term ascending channel near 160.50, as highlighted on the daily chart.
Currently, USD/JPY has retreated from its multi-month highs but remains steady above the 158.00 level during Tuesday’s Asian trading session.
Support for the pair comes from ongoing uncertainty about when the Bank of Japan (BoJ) will raise interest rates again and the broad recovery of the US dollar. The greenback rebounded after Monday’s sell-off caused by speculation around Trump’s tariff policies, keeping USD/JPY firm ahead of the upcoming US labor market data.
Further bullish moves could encounter resistance near the 158.00 zone or the recent multi-month high. A sustained breakout above these levels would likely energize bullish traders, opening the door to additional gains. USD/JPY could then aim for the 158.45 intermediate hurdle, reclaiming the 159.00 mark, and possibly targeting the psychological 160.00 level. If the momentum holds, the pair could even test the upper boundary of the long-term ascending channel near 160.50, as highlighted on the daily chart.
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