As the market awaits the FOMC rate decision, USDJPY has climbed above the 150.00 level in the U.S. session, reaching a high of 150.142 before pulling back to 149.92.
Technical Outlook: Today's high tested a key swing area between 150.11 and 150.288, which has been a pivotal zone of support and resistance since February. A sustained break above this region would reinforce a bullish bias, shifting focus toward the 38.2% retracement of the January 2025 high, which comes in at 151.239—a level where the rally on March 3 stalled. Additional resistance sits in the 151.199–151.34 zone, adding to the challenge for further upside.
Key Levels to Watch:
Resistance: 150.11–150.288 (swing area), 151.199–151.34, 151.239 (38.2% retracement)Support: 149.20, 148.96 (100-hour MA)A break above 150.288 would increase bullish momentum toward 151.239, while failure to hold above 150.00 could lead to further downside tests.
This article was written by Greg Michalowski at www.forexlive.com. Read More Details
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