USD/JPY has experienced a pullback following a rejection at the strong resistance level of 157.90. Despite this setback, the currency pair remains buoyed above the critical 50-day moving average, indicating that immediate downside risks may be limited. Traders are likely to see the exchange rate remain rangebound unless it manages to break decisively above 156.95, which could reignite bullish momentum.
Société Générale's FX analysts suggest that the near-term outlook for USD/JPY hinges on this key technical level. A sustained move above 156.95 may pave the way for further gains, while any continued resistance at 157.90 could lead to consolidation in trading. As the market closely monitors these levels, the implications for sentiment and positioning could be significant for traders in the forex space.
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Data Source: FX Killer Analysis Team Updated: 2025-12-19 09:23
Disclaimer: This article is for reference only and does not constitute investment advice. Forex trading involves risks; please make decisions carefully.