USD/JPY Technical Analysis 12.06.2024

USDJPY is currently trading at 157.329, up by 0.13%. This increase indicates an upward movement in the pair, suggesting that it may gain momentum towards the short-term resistance level of 160. If this resistance level is breached, a stronger uptrend could develop. Conversely, if the support level of 151 is broken, a significant pullback and downtrend may be expected. Therefore, investors should closely monitor both the 151 and 160 levels to stay prepared for potential market movements. Maintaining the support level suggests the continuation of current positions and potential buying opportunities, while breaking the resistance level could create new buying opportunities.