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USD/JPY: Can resistance hold as the breakout extends? – Societe Generale
USD/JPY is trading above 160 for a second day after breaking out of its recent consolidation and regaining the 200‑day moving average, according to Societe Generale’s Kenneth Broux and colleagues. Resistance around 160.40/160.70 and 162.20 marks the pair’s key upside hurdles, while support lies near 158.70.
Can Dollar-Yen move beyond 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."
"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."
(An Artificial Intelligence tool assisted in producing this article, which was reviewed by an editor. Learn more.)
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