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The information provided on EL7.AI is for educational and informational purposes only and does not constitute financial advice.
In a move reinforcing the US dollar's bullish momentum, USD/JPY broke above the 2024 high near 161.95/97, reaching an intraday high of 162.656, according to technical reports. The pair finds strong support at the broken area, now turned support, boosting confidence in the continuation of the uptrend.
The breakout comes amid strong US economic data, with the final Q1 GDP reading showing growth of 2.1%, beating the 1.6% forecast, per market data (June 25, 2026). Meanwhile, intervention risk from the Bank of Japan remains, especially after comments from Governor Ueda and Deputy Himino last week, capping potential gains.
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Sign InLooking ahead, bulls are targeting the next level at 164.50, the November 1986 high. The pair stays above the key support zone at 161.95/97, while traders await any new signals from BOJ officials or upcoming US inflation data.