USD/JPY Tests 157.00 Support Amid Bearish Tone
The USD/JPY pair has maintained its bearish near-term tone and is currently trading below both the nine-period and 50-period Exponential Moving Averages (EMAs). This alignment suggests that any upside attempts remain limited. The 14-period Relative Strength Index (RSI) is sitting at around 49, which indicates consolidation rather than a decisive trend reversal.
The immediate resistance for the USD/JPY pair lies at the nine-day EMA of 157.22, followed by the 50-day EMA of 157.98 and then the upper boundary of the symmetrical triangle around 158.80. A successful break above the triangle would likely lead to a bullish revival and allow the pair to explore the region around its nearly 40-year high of 163.99 reached on July 23.
On the downside, the USD/JPY pair may target the lower boundary of the symmetrical triangle around 155.60. A successful break below the triangle would put downward pressure on the pair to test the 11-month low of 152.10.