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ForexUpdated×11•Originally published 16 April 2026•Updated 18 April 2026•

1 min read

FX Market Update: USD/JPY Faces Resistance at 160.45 as EUR/USD Targets 1.1824

Golden Yen/Yuan symbol with green arrows pointing up, and a US dollar bill sinking into cracked ground with downward arrows.

Key Facts

1USD/JPY defended the 200-period Simple Moving Average (SMA) support on the H4 chart.

2The pair bounced off a one-week low, maintaining its trading range support near 158.25.

3Bulls appear hesitant as the price approaches the 159.00 resistance level.

about 2 months ago

Version History

Version 11about 2 months ago

What changed: Added daily pivot levels for USD/JPY, identified the 161.94 upside target, and clarified the technical basis for the 157.49 support level.

Version 10about 2 months ago

What changed: The story was updated to include specific technical pivot points and intraday biases for major currency pairs (EUR, GBP, CHF) instead of focusing solely on Yen intervention risks.

Version 9about 2 months ago

What changed: The story was updated to emphasize the rising risks of Japanese currency intervention, which contrasts with the previously dominant bullish technical outlook.

Version 8about 2 months ago

What changed: The outlook was updated from focusing on the 158.00 support level to a bullish forecast targeting the 162.00 resistance level.

Version 7about 2 months ago

What changed: Updated the report to reflect the pair reaching mid-159.00 levels while remaining within a consolidation range.

Version 6about 2 months ago

What changed: Updated the story to include the pair's stabilization above 158.80 and the 200-period SMA, along with clearing key Fibonacci retracement levels.

Version 5about 2 months ago

What changed: The story was updated to reflect the market's shift toward fundamental economic data and the increasing risks of Japanese intervention to support the Yen.

Version 4about 2 months ago

What changed: Updated the forecast to reflect the break below 159.00 and the test of 158.00 support driven by ceasefire reports and reduced safe-haven demand.

Version 3about 2 months ago

What changed: The story was updated to reflect USD/JPY reclaiming the 159.00 level and the emergence of RSI divergence which may limit further upside momentum.

Version 2about 2 months ago

What changed: Updated the report to include the potential breakout target toward the 162.00 resistance level.

Version 1about 2 months ago

What changed: The story was updated to reflect escalating US-Iran geopolitical tensions, oil prices rising to $97, and a retreat in European equities, while shifting focus to upcoming US PCE data.

Major currency pairs are exhibiting significant technical shifts, with USD/JPY currently facing resistance at 160.45 and daily pivot levels set at 158.90. An upside break of this resistance would see the pair targeting a retest of the 161.94 high, while the bullish outlook remains intact as long as the 157.49 support holds, which represents the 38.2% Fibonacci retracement level. Meanwhile, the intraday bias for GBP/USD has turned bullish toward 1.3867, and EUR/USD continues to target the 1.1824 retracement level. In the Swiss franc market, focus remains on the 0.7877 cluster support for USD/CHF, where a break could trigger further declines. These developments highlight a broader shift in FX technical setups, with traders closely monitoring daily pivot points and key retracement levels.