After choppy early trading, the USDJPY has shifted into a steady uptrend with minimal corrections. The day began with a dip during the Asian session, briefly pushing the pair below its 200-hour moving average (green line). However, buyers leaned against Friday’s low, reclaimed the 200-hour MA, and gained further momentum after breaking above the early session high near 144.63. That break triggered a stronger upside move that continues to stretch toward new highs.
Zooming out to the broader hourly chart, the pair is now approaching the 61.8% retracement of the June 23 high at 145.978, and a key swing area between 145.919 and 146.288. This upper region has proven to be strong resistance in recent months. While buyers have managed to push above it twice — in May and late June — each breakout attempt quickly faded, reinforcing the range’s upper boundary.
The wider range over the past two months spans 142.105 to 146.288 (see red box). A firm move above 146.288 would mark a decisive break and strengthen the medium-term bullish bias.
In the short term, support now comes in at:
145.347: 50% retracement of the June high-to-low move
145.216: last week’s high
Holding above these levels keeps the buyers in control intraday. A move below would ease bullish pressure and refocus attention on the 200-hour MA.
This article was written by Greg Michalowski at www.forexlive.com.Hence then, the article about usdjpy continues run higher new highs being made on the day was published today ( ) and is available on forex live ( Middle East ) The editorial team at PressBee has edited and verified it, and it may have been modified, fully republished, or quoted. You can read and follow the updates of this news or article from its original source.
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