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The USD/JPY pair rose from 155.01 last week, maintaining an upward trajectory with no immediate signs of topping. The initial bias remains bullish toward 160.71, a key resistance level expected to cap further gains. A break below 159.08 could reverse the trend, extending a corrective pattern from 160.71 as the third leg. Traders are advised to monitor these levels for potential breakouts or reversals. The pair's movement is influenced by broader USD strength and the yen's role as a safe-haven asset, making it sensitive to global risk sentiment and central bank policies. For forex traders, USD/JPY offers opportunities in both bullish and bearish scenarios depending on how these technical and macroeconomic factors unfold. Key watchpoints include the 160.71 resistance and 159.08 support, with potential implications for carry trade strategies and cross-currency positioning.
