USDJPY finds support at key moving average; eyes resistance at 38.2% retracement ...Middle East

In the North American session, the price has extended to the upside. Taking a broader view of the 4-hour chart, key resistance looms near the 38.2% retracement of the decline from the 2025 high (set on January 10). That retracement level sits at 147.135, just below the weekly high of 147.175 reached yesterday. Also in play is a swing area between 147.01 and 147.338, which has acted as a ceiling in recent sessions.

The buying interest at the 100-hour moving average today was a key technical clue—stalling the downside and keeping the short-term bullish momentum alive. The next test will be whether buyers can sustain a break above the 38.2% retracement, which also capped price action earlier this week.

To maintain control, buyers need to break and stay above 147.135. Failing to do so could invite sellers back into the picture and shift the near-term tone back to neutral.

This article was written by Greg Michalowski at www.forexlive.com.

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