USDJPY hits over two‑month low near 155.00
USDJPY remains under selling pressure, sliding to its lowest level since February 24 near the psychological 155.00 mark, after briefly breaching the long‑term rising trendline. The pair has since rebounded toward the 157.90 area, tracking a softer dollar after the US signalled progress toward a potential Iran deal, while the yen strengthened on renewed intervention speculation.
Momentum indicators point to a bearish near‑term bias, with both the RSI and MACD drifting toward negative territory. Upside attempts may struggle while the pair remains capped below the 20‑ and 50‑day SMAs, which form a bearish resistance cluster near 158.80. A close above the 157.90-158.20 zone would be the first test, with a broader recovery toward 160.00 only likely if buyers reclaim the SMA cluster.
On the downside, initial support is seen near the long‑term uptrend line around 156.40, followed by the 155.00-155.50 zone. A deeper test lies at the 200‑day SMA, hovering just above the February 23 swing low near 154.00.
To sum up, USDJPY remains under pressure following the downside break from its month‑long range, struggling to establish a floor near the rising trendline. Holding this area is key to limiting downside risks and preserving the broader bullish structure.
The yen is strengthening before our very eyes
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