USD/JPY extends trend at 161.10 with EMAs stacked bullish

USD/JPY is grinding higher on a clean trend structure, holding above 161.10 with no technical resistance mapped overhead and every timeframe pointing in the same direction.

The pair trades near the lower end of its 161.0175 to 161.4405 intraday range, down marginally on the session, but that shallow pullback tells the story of a market consolidating gains rather than reversing. Over the prior week the tape has systematically cleared 159.24912, 159.76925, 160.112 and 160.413 — each level a prior obstacle now embedded as demand.

For a trend-following desk, the setup is textbook. EMA20 at 160.67663, EMA50 at 160.39719 and EMA200 at 159.1389 are stacked in ascending order beneath spot, confirming the structural bid. Trend is aligned up across 1H, 4H and 1D, RSI is firm without being dangerously extended, and volatility is calm — a low-noise environment that historically keeps trending instruments trending. With no resistance in the technicals and a series of broken former highs now acting as demand, we lean long and buy pullbacks into the 160.67 to 160.68 zone where EMA20 offers natural support.

A daily close back through 160.112 support would shift the structure materially and forces a reassessment. Above that level, we stay with the trend.