Technical Analysis of USDJPY

Overview

The USDJPY currency pair has recently broken above the 38.2% retracement level of its trading range for 2025, which is a significant technical indicator. This level is calculated from the high on January 10 to the low on April 22, with the retracement level identified at 147.135.

Current Market Position

As of the latest analysis, USDJPY has reached a high of 147.515, marking its third attempt to maintain a position above the 38.2% retracement level since the April low. Previous attempts to break above this level on May 12 and June 23 were unsuccessful, but the current movement suggests a renewed opportunity for buyers.

Key Levels to Watch

For the bullish momentum to continue, it is crucial for the USDJPY to hold above the 147.135 support level. If this support is maintained, potential upside targets include:

• June high at 148.019
• May high at 148.647, which is within a notable swing area between 148.56 and 148.724.

Conclusion

The market is currently testing the potential for a bullish breakout. The critical question remains whether buyers can sustain momentum above the 38.2% retracement level. The close risk level for USD bulls is clearly defined: maintaining a position above 147.135 is essential to keep the bullish outlook alive.