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The USDJPY pulls back after reaching our target -Analysis-30-04-2026
The USDJPY pair declined in recent intraday trading after holding below the key resistance level at 160.45, which was our latest price target. The pair is undergoing a profit-taking phase following its previous gains, while also attempting to ease its clearly overbought condition on the relative strength indicators, especially with the emergence of a bearish crossover.
Despite this pullback, the pair still benefits from dynamic support as it continues to trade above EMA50, remaining under the control of a short-term bullish trend. This could help it regain positive momentum and attempt to break above the resistance level.
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