USD/JPY tests key resistance at 159.50 – 160.00 as traders focus on the fundamental weakeness of the Japanese currency. However, traders remain cautious as BoJ may intervene to provide additional support to the yen.
If USD/JPY climbs above the 160.00 level, it will head towards the next resistance level at 161.50 – 162.00. A move above 162.00 will open the way to the test of the 164.00 level.
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