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USD/JPY: Continues Gains But Still Encounters Resistance 156.00

by Ella

USD/JPY maintained its gains, trading at 155.66 after hitting a daily low of 155.25.

The technical outlook points to further gains for the currency, with resistance at 156.05, 157.00 and the yearly high at 160.32.

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Key support levels include 155.18, 155.00 and the May 16 low of 153.60 if USD/JPY falls below 155.69.

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USD/JPY extended gains late in the U.S. session on Friday but was set to remain unchanged at the end of last week. USD/JPY was at 155.66, up 0.18% after hitting a daily low of 155.25.

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