USD/JPY pushes 159.08 as momentum keeps yen sellers in charge

USD/JPY is pressing the top of its intraday range and the short-term trend structure refuses to bend despite an overbought RSI reading.\n\nThe pair has gained 0.21% on the session and 0.86% over the past week, working through a 158.5965 to 159.0825 daily range. No single macro catalyst has driven the move; the bid is a grind built on accumulated positioning rather than a headline flush.\n\nThe technical picture is constructive, with caveats. Price sits above EMA20 at 158.569, EMA50 at 158.108 and EMA200 at 158.545 — a clean stack that a trend-following desk respects as structural support. Trend is aligned up on the 1H and 4H frames, though the daily remains neutral, which keeps overall alignment mixed rather than fully loaded. RSI is firmly in overbought territory, and volatility remains calm, meaning the market is not yet forcing a flush. For a momentum-oriented lens, overbought conditions during a trend extension are often resolved by time rather than price, and the EMA stack anchors the floor. The nearest support shelf at 158.915 served as intraday demand and represents the first credible line of defence for bulls.\n\nWe lean long and look to buy dips into the 158.915 to 158.975 zone. A clean 4H close below 158.915 invalidates the setup and signals the trend is losing its traction ahead of the 159.521 resistance target.