The USDJPY has spent most of its time since March 11 trading within a well-defined range between 158.00 and 160.00. There have been brief breaks outside that band, but for the most part, price action has been contained—making those boundaries a clear barometer for buyers and sellers.
Today, the buyers started to take more control.
The first clue came during the Asian-Pacific session, where the price found solid support against the 100-hour moving average. Buyers leaned against that level, defining risk, and used it as a springboard for a push higher into the European session.
Momentum carried into North America, where stronger USD buying—helped by rising yields and higher oil prices—drove the pair above the key swing area near 160.00. That break shifted the bias more firmly in favor of the buyers.
Since then, the price has extended to a high of 160.31, with the corrective pullback holding at 160.006. The pair currently trades near 160.20, keeping the upside pressure intact.
For buyers to stay in control:
- Holding above the 159.96–160.00 area is key
- That zone now acts as a floor and short-term risk-defining level
A more conservative risk level comes in below 159.705—the low of a prior swing area. A move below would start to erode the bullish bias.
On the topside, the next target comes in at the 2026 high of 160.455
