Key Highlights
- USD/JPY is struggling to continue higher above 156.00.
- A key bearish trend line is forming with resistance at 156.35 on the 4-hour chart.
- Bitcoin remained in a range above the $85,000 support.
- Gold could continue to rise if it settles above $4,365.
USD/JPY Technical Analysis
The US Dollar formed a base near 154.35 and corrected some losses against the Japanese Yen. USD/JPY climbed above 155.00 before the bears appeared.
Looking at the 4-hour chart, the pair surpassed the 200 simple moving average (green, 4-hour) and tested the 100 simple moving average (red, 4-hour) and. The bears remained active near the 61.8% Fib retracement level of the downward move from the 156.95 swing high to the 154.39 low.
Immediate resistance sits near 156.00. The first key hurdle is seen near 156.30. There is also a key bearish trend line forming with resistance at 156.35.
A close above 156.35 could open the doors for a move toward 157.00. Any more gains could set the pace for a steady increase toward 158.00.
On the downside, there is key support at 155.00. The first major support is 154.50. The next support could be 154.30, below which the bears might aim for a move toward 153.50.
Looking at Gold, the bulls remain in action and might soon aim for a move above the $4,380 level in the near term.
Upcoming Key Economic Events:
- US Existing Home Sales for Nov 2025 (MoM) – Forecast +0.1%, versus +1.1% previous.
- Michigan Consumer Sentiment Index for Oct 2025 (Prelim) – Forecast 54.2, versus 55.1 previous.
