USDJPY Technical Analysis – Keep an eye on this important resistance
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The USDJPY pair rallied back to retest a key resistance and moved lower. The USD regained some strength in the latter part of last week. The market expects at least two rate cuts by the end of the year. The US economy remains resilient with inflation falling back to target. The JPY is losing ground against major currencies. USDJPY broke through the key trendline around the 158.00 level, sellers remain in control. Strong resistance zone around the 158.00 handle. Interesting zone between the 156.50 and 157.00 levels. Upcoming catalysts include the release of Japanese and US Flash PMIs, US Jobless Claims figures, Tokyo CPI, and US PCE reports.



https://www.forexlive.com/technical-analysis/usdjpy-technical-analysis-keep-an-eye-on-this-important-resistance-20240722/