Daily Chart

The daily chart reveals a sustained uptrend for USDJPY since the start of the year, with price comfortably above both the 50-day and 200-day moving averages, indicating solid medium to long-term bullish momentum. Bollinger Bands are slightly narrowing, signaling reduced volatility yet potential for a breakout. MACD remains in positive territory but shows waning momentum as histogram bars shrink, cautioning traders about possible trend exhaustion. Overall, the technical picture supports further upside but forewarns of increased short-term consolidation.

1H Chart

On the hourly chart covering the last five days, USDJPY fluctuates between 157.9 and 158.4. Short-term moving averages are aligned bullishly, but the price recently touched the upper Bollinger Band before retreating, pointing to selling pressure at higher levels. The MACD lines have formed a golden cross with weakening histogram bars, suggesting the potential for a near-term pullback. Notably, a shooting star candlestick appeared recently, signaling a possible price reversal within the next 24 hours.

Technical Trend:  USDJPY is currently in a cautiously bullish uptrend with increasing short-term consolidation and sideways movement.

Technically, USDJPY faces strong resistance near 158. Daily MACD momentum is waning, and the hourly shooting star candlestick signals a potential short-term reversal or pullback. Should US dollar strength reemerge, the pair may challenge its 158.5 resistance level and beyond. Traders are advised to combine technical signals with market news for prudent entry and exit decisions, avoiding chasing prices at current highs.

Today’s GMT+1 economic calendar does not feature any major events directly impacting USDJPY. However, key US data releases including the February Consumer Price Index (CPI) and core CPI at approximately 20:30 HKT could influence USD strength and subsequently USDJPY indirectly. No significant data releases are scheduled during Asian and European market hours, so current price action remains focused on geopolitical developments and dollar dynamics.

Resistance & Support

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