Yesterday’s announcement of a 90‑day suspension of some US‑China tariffs lit a fire under USDJPY, propelling the pair from a gap higher low 145.71, to a session peak at 148.64. That rally stopped cold in a long‑standing swing zone between 148.56 and 148.73 (red arrows on the chart) — the same band that capped price action multiple times in February–March and going back to December 2024.
147.20‑147.34 swing area dating to August 2024 (not shown)
Hold above that risk‑defining zone and the upside bias survives; break below and the recovery narrative starts to unravel.
50 % retrace of the 2025 decline at 149.38
Psychological 150.00 level
Key levels (single‑line bullets):
Support: 147.20‑147.34 (swing), 147.14 (38.2 %), 146.53 (prev low from March)
Bias: Bullish while > 147-13 -147.20; break
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