<p>The USDJPY tumbled sharply last week after intervention fears out of Japan surfaced as the pair pushed above the 160.00 level. That warning triggered aggressive selling, driving the price down to 155.46—just ahead of the 61.8% retracement of the move up from the February 12 low (155.505). Buyers leaned against that level, and the pair began to rotate higher.</p><p>On the rebound, upside momentum initially stalled near the 100-day moving average. Sellers leaned against that level repeatedly—on Friday, again yesterday, and earlier today—keeping a lid on the rally. Meanwhile, downside corrections held support near the 50% midpoint of the same February move at 156.50, reinforcing that level as a key risk-defining zone for buyers.</p><p>Today, the technical picture improved for the bulls as the price finally broke above the 100-day moving average (157.30 area), triggering stronger upside momentum. The rally has now brought the pair into the next key hurdle: the falling 100-hour moving average at 157.76. The market is trading right at that level as North American traders enter, making it the immediate battleground.</p><p>A sustained break above the 100-hour moving average would open the door toward 158.09—the 38.2% retracement of last week’s decline—which also sits within a key swing area between 157.97 and 158.26 dating back to early March. That zone represents a cluster of resistance where sellers are likely to re-emerge.</p><p>On the downside, a move back below the 100-day mo
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