USDJPY remains near highs for the day | Forexlive

The USDJPY began the U.S. session trading between two key technical levels: the 100-bar moving average on the 4-hour chart at 144.77 and the 200-hour moving average at 143.97. Both buyers and sellers initially leaned against these levels, leading to a period of consolidation.

During the session, the pair broke above the 100-bar MA at 144.77, but the first attempt failed to gain momentum. However, the next hourly candle pushed through, extending to a new session high of 145.07. Later, some end-of-day consolidation saw price pull back to retest the 100-bar MA, which is currently acting as intraday support at 144.77.

So far, buyers are holding the line at this support, keeping the bullish bias intact. If this level continues to hold, the next upside target is the 50% midpoint of the May trading range at 145.373.

🔹 Support Levels:

• 144.77 – 100-bar MA on the 4-hour chart (key near-term support)

• 144.60 – (broken 38.2% of the May trading range)

• 143.97 – 200-hour MA (broader support)

🔹 Resistance Levels:

The technical setup suggests buyers are attempting to maintain control, with the 100-bar MA serving as a critical pivot. A sustained move above 145.373 would add confidence to the upside momentum

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