The USDJPY moved higher during the Asian session, breaking above the prior ceiling near 154.47 that had capped gains since late October. Since that breakout, the pair has seen two pullbacks — including one in the North American session — both of which found support near that former ceiling, confirming the level’s shift from resistance to support.
For traders, holding above 154.47 keeps buyers firmly in control. A move back below that level would begin to weaken that control, while a more conservative risk level sits near the converging 100- and 200-hour moving averages around 153.93. As long as the price stays above 154.47, further upside probing remains favored; a break below it, however, could see a rotation toward the 100/200-hour MAs as traders reassess the short-term bullish bias.
Key Technical Summary
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Resistance turned support: 154.47
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Risk level (conservative stop): 153.93 (100/200-hour MAs)
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Bias: Buyers remain in control above 154.47
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Upside potential: Continued probing higher while holding support
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Downside risk: A break below 154.47 opens the door toward 153.93 and weakens short-term bullish momentum
This article was written by Greg Michalowski at investinglive.com.