The wide interest rate gap between the US (3.50%–3.75%) and Japan (0.75%) continues to provide a persistent upward pull.
A potential "bull flag" is forming on the 1-hour chart, suggesting another leg higher toward 159.85 if it breaks above 159.60 .
Recent price action around 160.00 shows bearish divergence on the RSI, hinting that the uptrend may be losing steam. Key Technical Levels to Watch
159.83 (recent highs) and the critical 160.00 barrier.
Some algorithmic forecasts predict a continued climb through 2026, reaching as high as 170.00 by year-end. Sell Arguments (Bearish Outlook):
Traders are wary of the psychologically critical 160.00 line, where previous intervention by Japanese authorities has triggered sharp pullbacks.
158.88 (previous resistance-turned-support) and 157.64 (major trendline support).
The pair is currently trading near as of early Tuesday morning. Market sentiment is cautious ahead of today’s BoJ interest rate decision and Wednesday's Federal Reserve meeting. 1 USD equals As of Apr 28, 05:17 GMT+3 • Disclaimer Apr 28, 2026 03:00 - 05:17 Buy or Sell Perspectives Buy Arguments (Bullish Outlook):
