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USD/JPY remained range-bound below 160.45 last week despite high volatility, with a neutral initial bias this week. Key support at 157.49 (38.2% retracement level) remains intact, while a breakout above 160.45 could target 161.94. Traders are monitoring technical levels and potential price movements in this major forex pair.
For forex traders, the USD/JPY outlook highlights critical support/resistance clusters that could influence short-term momentum. The 157.49 support level and 160.45 resistance are pivotal for determining the pair's direction. Breakouts above 161.94 may attract bullish positions, while a decline below 157.49 could trigger bearish pressure.
The implications for global forex markets depend on whether USD/JPY sustains above 160.45. Traders should watch for confirmation of a breakout or rejection at this level, alongside broader USD strength against other majors like EUR and GBP. Central bank policies and geopolitical risks could also impact the pair's trajectory.
