USD/JPY Retreats, But Uptrend Remains Firm Amid Strong Interest Rate Differential
The USD/JPY exchange rate has pulled back from its recent high of 160.20, but the uptrend remains intact.
After a five-day advance, the pair retreated to the 159.80-159.75 zone during the Asian session.
The technical structure remains constructive, with the 100-period Simple Moving Average and the 50.0% Fibonacci retracement supporting the price above 159.58.
Key resistance levels are seen near the 200-period SMA at 160.33, as well as at 161.62 and 162.09.