Forex
USD/JPY Recovery Stalls Near Resistance
The USD/JPY currency pair has been experiencing a recovery wave since hitting 152.90, with prices rising above 154.50.
However, this upward momentum has stalled near resistance levels of 156.65 and 157.50 on the 4-hour chart.
A key technical analysis shows that the US Dollar formed a base above 153.00 against the Japanese Yen, with USD/JPY recovering above 154.00 and 154.50 to enter a short-term positive zone.
The pair has surpassed a rising channel with resistance at 155.20, but struggled just below the 50% Fib retracement level of 156.60 and the 100 simple moving average (red, 4-hour).