The chart shows that if the USD/JPY remains above the 21-day moving average line, the USD may extend its gains against the Japanese Yen.
Quek Ser Leang from the Global Economic and Market Research Department of Dahua stated in a report that if the US dollar remains above the 21-day moving average, the US dollar against the Japanese yen may see an increase in gains, with the average currently at 161.00 yen. The senior technical strategist said, "With the US dollar against the Japanese yen in uncharted territory, there are hardly any clear technical reference points that can be identified as meaningful resistance levels." Therefore, the strategist added, "Whole number resistance levels may become the most practical resistance levels." However, the strategist noted that the MACD indicator on the daily chart continues to show a clear negative divergence, indicating insufficient upward momentum. Data from the London Stock Exchange Group shows that the US dollar has risen by 0.1%, reaching 162.16 yen.
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