The USDJPY has extended higher, breaking above its 100-day moving average at 159.994 and the natural resistance at 160.00. The high price has reached 160.15 as buyers maintain firm control.
The move has been supported by hawkish comments from Fed Chair Powell and a sharp rise in U.S. yields. The two-year yield is up nearly 11 basis points at 4.34%, while the 10-year yield is higher by 5.2 basis points at 4.724%. Higher yields are helping to strengthen the dollar against the yen.
Technically, today’s advance also took the price above two other important resistance levels:
- The 50% retracement of the decline from the 40-year high of 163.98 at 159.599
- The August corrective high off the 2026 low at 159.23
Breaking those levels—and now the 100-day moving average and 160.00—keeps the buyers firmly in control.
The next upside targets come at:
- 160.446: July 3 low
- 160.634: 61.8% retracement of the decline from 163.98
- 160.864: Corrective high following the initial intervention-led decline
That creates a concentrated resistance area between 160.446 and 160.864. A break above that cluster would further strengthen the bullish bias and open the door toward the 2026 high at 163.98.
For now, the 100-day moving average at 159.994 and the 160.00 level become the key short-term barometer. Stay above, and the buyers remain in control. Move back below, and the breakout would begin to lose some of its technical appeal.
This article was written by Greg Michalowski at investinglive.com.