USDJPY extends higher, testing key resistance after shrugging off Waller dip | Forexlive

The USDJPY is surging higher after briefly dipping on the back of dovish FOMC commentary from Vice Chair Christopher Waller. That dip found support near the 50% midpoint of the May high to low move at 145.375—a key technical level that helped re-anchor bullish sentiment.

Since then, the pair has rebounded sharply, making new highs for the day, the week, and reaching levels not seen since May 29. The price is now testing a key swing area between 145.919 and 146.25, which also includes the 61.8% retracement of the May decline at 146.148. Getting above those levels and staying above would be the next hurdle for the buyers.

Sellers looking for an area to sell the USDJPY would be looking to lean in this area.

On the week, USDJPY is up solidly from last Friday’s closing level of 144.06, adding to bullish momentum. For the week, the price is up 4 of 5 trading days and has been up 5 of 6 days.

🔹 Key resistance:

🔹 Key support:

A break above the current zone would shift focus toward 147.20–147.38. But failure to clear 146.25 could bring sellers back into play short term.