USDJPY Chart Technical Outlook dips to find buyers, 160.30 eyed
USD/JPY keeps trending higher despite all the rhetoric from the BoJ to reduce buying the JGB next meeting and the intervention jitters. There is no sign that the rally is over. Overbought charts and bearish divergence could cap gains for a temporary corrective pullback to find buyers later. Current levels don’t offer value trades for bulls. It is better to fade dips. Supports are located at 160.30 and 159.20. Resistances are seen at 161.50 and 161.80.
