USDJPY flirts with 160 level again

From xm.com

Following a constructive week, USDJPY is now hovering just below its 34-year high of 160.20, having surpassed April’s barrier of 158.34 and a crucial resistance line. The price has been facing resistance near 159.80 over the past couple of days and with the technical indicators sending overbought signals, the bulls might experience a tough session ahead. However, if the pair continues to defend itself around the 159.00 round level, hopes for another upturn may not completely fade. A decisive move above the 160.20 peak could last till the 162.75-163.10 region, where the rising constraining lines from January and ... (full story)