• USD/JPY remained supported in Asian trading, holding within a 157.70–157.86 range after moving between 157.56 and 157.93 the previous session.
• Concerns over possible Japanese FX intervention are keeping the pair below the 158.00 level for now, with traders viewing 158 as the new key threshold previously associated with 160.
• Market participants are closely watching for any official action if the pair moves higher.
• Broader market focus remains on the Trump-Xi talks and whether they can help ease geopolitical tensions and break the current U.S.-Iran stalemate.
• Immediate resistance is located at 158.00 (Psychological level), any close above will push the pair towards 158.23(SMA 20).
• Support is seen at 157.43 (50%fib) and break below could take the pair towards 156.75(May 12th low).
Recommendation: Be on sideliness
