USD/JPY remains firmly bullish as the pair trades around 161.65, maintaining its position above key support levels and keeping the broader uptrend intact.
The Japanese Yen continues to face pressure against a strong US Dollar, while traders closely monitor whether the pair can break above the historic 162.00 resistance level.

Technical Analysis
The bullish structure remains intact as USD/JPY trades comfortably above the 20-week Exponential Moving Average (EMA), currently positioned at 158.72.
Momentum indicators also favor the bulls. The Weekly Relative Strength Index (RSI) stands at 64.11, reflecting strong buying pressure while remaining below overbought territory. This suggests there is still room for further upside before the market becomes overstretched.

Key Levels to Watch
Bullish Scenario
📈 Resistance: 162.00 (All-Time High)
A successful breakout above 162.00 could push USD/JPY into uncharted territory and trigger fresh bullish momentum.
Bearish Scenario
📉 Support 1: 160.00
📉 Support 2: 158.72 (20-Week EMA)
A drop below 160.00 could encourage short-term profit-taking, while the 20-week EMA remains the key level supporting the long-term uptrend.

Market Outlook
The overall trend remains bullish as long as USD/JPY holds above major support levels. Traders are now focused on whether buyers have enough momentum to break through the psychological and historical barrier at 162.00.
A breakout could open the door for a new leg higher, while failure to clear resistance may lead to short-term consolidation.

👉 Check More for the latest market insights and trading opportunities. https://www.goldscalpingsignals.com/packages