USDJPY Awaits a Breakout at 155.878

21 Kas

USDJPY is currently trading in a short-term uptrend but is being held back by a descending trendline and the resistance level at 155.878. After bouncing from the strong support at 153.350, the price is now fluctuating around EMA 34 (154.850) and EMA 89 (153.995), reflecting a tug-of-war between buyers and sellers.

Rising U.S. bond yields and the Bank of Japan's dovish policies continue to support the USD, while the Japanese Yen remains under pressure.

The RSI at a neutral level of 51.52 indicates unclear market momentum. If the price breaks above 155.878, the uptrend could strengthen with a target near 157.000. Traders should closely monitor key levels to make informed decisions.

21 Kas

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