USDJPY

The USD/JPY pair is trading with gains for the fourth consecutive day around 156.55 during the Asian session today. The pair's rise is supported by speculation that the Federal Reserve (Fed) may keep interest rates high for longer due to high inflation. However, fears that Japanese authorities may intervene in the foreign exchange markets may limit the upward movement of the USD/JPY pair. The pair, which closed at 156.38 on the previous trading day, lost 0.02% on the day. The RSI indicator for the pair, which is above its 20-day moving average, is at 60.79, while its momentum is at 100.03. The 156.42 level can be followed in intraday upward movements. If this level is broken, the resistances at 156.53, 156.67 and 156.78 may become important. In possible pullbacks, 156.27, 156.16 and 156.02 will be monitored as support levels. Support: 156.270 – 156.160 Resistance: 156.530 – 156.670