Technical Analysis – USDJPY stays rangebound, pinned at support near 158.00

#USDJPY bulls are defending 50-SMA support, but momentum stays weak as the pair stays rangebound. Watch resistance at 158.40 and support at 156.65 for clues on the pair's next move.
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Overview: USDJPY is trading within the 156.65-158.75 range it has held since late September, with rallies consistently capped by the 200-day SMA, keeping price action below the 159.00 mark.

Momentum: Momentum indicators are flattening in neutral territory, suggesting rallies are likely to continue facing selling pressure at this overhead resistance, while the broader structure remains below the near-term descending trendline.

Bearish scenario: Another rejection near 158.40 could push the price towards the lower boundary of the short-term trading range at 156.65 and potentially down to 155.50.

Risk: Bulls would need to reclaim the 200-day SMA near 158.75 to ease downside pressure.

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Tipe: Market Maker
Regulasi: FSA (Seychelles), FSC (British Virgin Islands), CySEC (Cyprus), FSC (Belize), DFSA (UAE), FSCA (South Africa), FSC (Mauritius), CMA (Kenya)
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