USDJPY is currently trading around 149.65, softening after its recent rally stalled near the 150.70–151.00 resistance zone.
On the daily chart, price is still supported by the 50-day and 200-day SMAs, confirming that the broader trend remains intact despite short-term weakness. The market seems to be taking a breather after an extended climb, which is natural given how stretched momentum had become in early October.
Support now sits around 149.00 and 148.40, where dip buyers could look for reactions. A clean daily close above 151.00 would likely re-ignite bullish momentum toward 153.00 and possibly 155.00, while a breakdown below 148.40 could trigger a deeper correction toward 147.00.
On the weekly chart, the pair continues to coil within a symmetrical triangle, with the 150 area acting as a key pivot between long-term consolidation and potential breakout territory. Price remains above both moving averages, suggesting structural strength.
Fundamentally, the yen remains under pressure due to the wide yield gap between Japan and the U.S., while traders remain cautious ahead of any potential BoJ policy tweak. U.S. economic resilience and rate expectations continue to back the dollar, keeping dips limited for now.
My Takeaway:
USDJPY is in a healthy pullback phase, not a reversal. The 149–148.40 zone is crucial, if it holds, bulls could regain control toward 153+. But if it cracks, we may see a temporary shift in sentiment before the next wave higher.