USDJPY Extends Rally Toward 158, Bullish Momentum AcceleratesThe U.S. Dollar / Japanese Yen pair continues its strong upward trajectory, breaking well above both the 50-day and 200-day simple moving averages (SMAs). The pair is currently trading near 156.70, approaching the key horizontal resistance around 158.55 — a level last tested earlier in the year.
The ascending trendline drawn from the April lows has acted as consistent dynamic support, confirming a well-defined bullish structure. The crossover of the 50-day SMA above the 200-day SMA earlier this quarter (a “golden cross”) adds further weight to the bullish bias.
Momentum indicators also reinforce the trend. The MACD histogram remains positive, with the signal lines diverging to the upside — a sign of continued upward pressure. The RSI has entered overbought territory near 72, indicating strong momentum but also hinting that the market may be nearing a short-term exhaustion zone.
Overall, USDJPY maintains a clear bullish bias within an established uptrend, with attention now on whether price can sustain above 158.55 or begin consolidating after an extended advance.
-MW
