The breakthrough of a critical Fibonacci level reinforces the strong bullish outlook, though 155 remains a major obstacle

USDJPY maintains a steady tone and continues to trade close to the key 155 barrier, where strong resistance halts the action amid expectations that Japan’s authorities might intervene at this level.

The technical outlook on daily and weekly charts is increasingly bullish, with a strong positive signal emerging on the weekly close above the significant Fibonacci level at 152.60 (38.2% of the broader 277.65/75.55 downtrend from 1982/2011). This breakthrough could pave the way for a stronger acceleration toward the 160 zone (1990 high), provided there is a sustained break of the 155.00 threshold.

The rising 10-day moving average curbed last Friday’s dip, enhancing the bullish near-term sentiment. However, overbought conditions and significant resistance at the 155 barrier suggest that price action may remain range-bound.

Any pullbacks should stay above the breached 152.60 barrier (supported by the rising 20-day moving average), which has turned into strong support, offering better opportunities to re-enter the bullish market.

Caution is advised on a sustained break below 152.60, as this could weaken the near-term structure and heighten the downside risk.

Res: 155.00; 155.77; 156.36; 157.73

Sup: 154.42; 153.87; 152.60; 152.00