USD/JPY trades in a tight range near 158.00, with technical support at 157.50 and the 200-day SMA providing a floor for the currency pair.
The USD/JPY pair is exhibiting a consolidation pattern, trading within a narrow range while maintaining support above the 157.50 level. Despite recent upward movement, the pair remains constrained by the 200-day Simple Moving Average (SMA) at 158.54, which acts as a critical technical barrier for bullish momentum.
The pair is trading in a tight range, supported at 157.50 but capped by the 200-day SMA at 158.54.
The 200-day SMA at 158.54 serves as the primary resistance level for bulls.
The US Dollar maintains a narrow trading range against the Japanese Yen, hovering near the 158.00 level. Downside pressure remains contained as the pair finds technical support above the 157.50 mark and the 200-day moving average.
The pair shows a short-term bullish bias, supported by a floor at 157.50, though it faces resistance near the 200-day moving average of 158.54.