USDJPY SHORT

USD/JPY climbed to a new 4-week high of 159.64. However, we may expect some profit-taking and manipulation around current highs as the currency pair nears the level that often prompts Bank of Japan intervention.

Key Indicators

• The currency pair faces short-term rejection near the daily high of 160.70 due to a lack of price movement.

• The 4-hour chart reveals weak upward momentum, showing signs of exhaustion on lower timeframes.

Fundamental Context

USD/JPY has seen a significant surge recently. However, the currency pair continues to be the main focus in the next two trading sessions as the Bank of Japan (BoJ) remains on high alert for intervention⁠.