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USD/JPY: Resistance comes under test as breakout gains extend – Societe Generale

Having regained its 200‑day moving average, USD/JPY is trading above 160 for a second day following a breakout from its recent consolidation, according to Societe Generale’s Kenneth Broux and colleagues. Resistance levels to watch are around 160.40/160.70 and 162.20, while support lies near 158.70.

Dollar-Yen Challenges Multi-Year Highs

"USD/JPY witnessed a sharp rebound in September and evolved within a narrow consolidation. It has now broken out above the upper limit of this rang denoting possibility of extension in bounce. The next potential hurdles could be located at April high of 160.40/160.70 and projections near 162.20."

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"The pair has reclaimed the 200-DMA. If a short-term pullback develops, the moving average at 158.70 could be an important support."

"USD/JPY: 159.66 - 160.19 overnight range. Spot trades through 160 for second day before traders pare back on warning by FinMin Katayama one-sided action and rapid forex moves. Support 158.70, resistance 160.70."

(This article was created with the help of an Artificial Intelligence tool and reviewed by an editor. Know more.)

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Name / Symbol

Chart

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1 D change

-5.42%

161.47

1 D change

+0%

0

1 D change

+1.48%

521.78

1 D change

-1.63%

265.26

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