USD/JPY presses 160.36 as daily trend holds above EMA50

USD/JPY is grinding toward resistance at 160.61 with the daily trend intact and a string of broken levels now acting as support beneath current price.

The pair is up 0.25% on the day, trading at the top of a 159.9255 to 160.3605 intraday range. No major news catalyst is driving the move; this is momentum continuation, with the prior week's series of broken levels — including 159.75 and 159.25 — confirming a structural bid.

The setup is straightforward for a trend-following desk. Price trades above EMA20 at 160.29 and EMA50 at 160.09, and both sit well above EMA200 at 158.76, maintaining the full EMA stack alignment on the daily. The shorter timeframes are mixed rather than confirming, and RSI sits neutral without being extended in either direction, suggesting the trend is grinding rather than surging. Volatility is calm, meaning conditions favour carrying a long position rather than chasing sharp entries. The sole resistance level sits at 160.61, and that is the natural near-term target.

We lean long and buy dips into the 160.09–160.29 EMA cluster. A daily close below support at 159.75 invalidates the call and shifts the read back to neutral.