USD/JPY holds 160.28 EMA20 as uptrend alignment stays intact

USD/JPY is grinding against session resistance at 160.4585 with the entire trend stack pointing higher and price refusing to give ground below EMA20.

The pair is fractionally softer on the day, trading inside a tight 160.3485 to 160.4585 range — a session span of barely a hundred pips. No macro event has crossed the wires to shift positioning, and the prior week's sequential break of levels from 158.77 through to 159.76 underscores how clean and sustained the bid has been.

The setup remains constructive from a trend-following perspective. Price sits above EMA20 at 160.28, EMA50 at 160.17, and EMA200 at 158.92, with the full three-layer stack in sequence. Trend is aligned up across 1H, 4H and 1D simultaneously — a configuration that argues for adding on dips rather than fading strength. RSI sits in neutral territory, well short of any overbought extreme, leaving room for the next leg. Volatility is calm, which historically keeps momentum trades clean with limited noise. The sole nearby resistance to clear is 160.514; a decisive close above that prints a fresh structural high and opens the next extension.

We look to buy pullbacks into the 160.28–160.35 entry zone where EMA20 and intraday demand converge. A daily close below the first support at 159.76 invalidates the call and signals that sellers have finally found traction.