USD/JPY Outlook: Buyers Defend 152.00, Breakout Levels in Focus

USD/JPY keeps bouncing off 152.00—buyers show up every time the price drops there. Right now, that support looks pretty strong. Up above, 154.45 is the main resistance. If USD/JPY pushes through and holds above that level, 156.00 becomes the next big target.

The U.S. dollar still has some momentum, thanks to talk about a more aggressive Fed. So the odds lean toward another push higher soon. But honestly, you never know—headlines or sudden comments from Japanese officials can shake things up in a hurry, so watch your risk.

On the 4-hour chart, there’s this not-quite-perfect head and shoulders pattern forming. The neckline’s sloping down and acting as short-term resistance. If USD/JPY closes above that neckline and the 154.40 zone for a solid four hours, that’s a bullish signal. That could set up a run toward 156.00.

USD/JPY 4 Hour Chart