USDJPY closed the week right at a major resistance zone, printing a high at 160.25, just below the 2024 weekly high close at 160.70. This area is critical and could determine the next directional move.
With heightened volatility driven by ongoing geopolitical tensions, the big question is: will we see a gap up at the open?
On the downside, the next key short-term support sits at 158.90, aligning with the 2025 high. This places support roughly 156 pips below current price, leaving room for a potential pullback if resistance holds.
A weekly close above 160.70 would be a significant bullish signal, opening the door to higher price targets — levels not seen since the late 1970s.
Key Levels Summary:
Resistance: 160.25 – 160.70
Support: 158.90
Bullish confirmation: Weekly close above 160.70
Traders should watch price action closely at the open, especially for any gaps or strong momentum moves driven by external news.