USDJPY extends gains as momentum builds toward key 150.00 resistance
USDJPY extends higher to start the new trading week . The USDJPY is trading higher to kick off the new trading day and week, continuing the upside momentum seen last week.
The USDJPY is trading higher to kick off the new trading day and week, continuing the upside momentum seen last week. The pair ended last week up 67 pips or 0.45%, following a volatile up-down-up pattern. So far today, it has gained another 50 pips or 0.34%, currently trading near 149.76.
Friday’s move above the 100-hour moving average (currently at 149.227) helped shift the bias more in favor of buyers. Today’s early Asian session low of 149.326 held above that key level, keeping buyers in control.
The pair reached a high of 149.949, just shy of the psychological 150.00 resistance, before pulling back to 149.51 in European trading. Since then, it has bounced back in early North American trading.
A break above 150.00 would open the door for a test of the next resistance area between 150.11 and 150.288. Above that, the 38.2% retracement of the 2025 trading range at 151.249 becomes the next key upside target.
On the downside, a move back below the 100-hour MA (149.227) and the 200-hour MA (148.895) would shift the bias back in favor of sellers.
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