USDJPY: Recovery Challenges 156.33 Resistance

In this comprehensive analysis, Ultima Markets brings you an insightful breakdown of USDJPY for September 18, 2026.

Technical Analysis of USDJPY

USDJPY Daily Chart Insight

(USDJPY Daily Chart, Source: Ultima Markets MT5)

USDJPY remains under broader bearish pressure on the daily chart despite recovering from the recent sell-off. Price has rebounded toward 156.230 and is testing the area around the red 16-period moving average (MA16), while remaining below both the purple 50-period moving average (MA50) and blue 100-period moving average (MA100). The MA16 continues to slope sharply lower, while the MA50 has also turned down and the MA100 is flattening to lower, leaving the broader moving-average structure tilted in favour of sellers.

The rebound from the 152.950–153.530 region has improved near-term momentum, but the daily RSI at 46.00 remains below the upper half of its recent range. The daily bias therefore remains bearish, although the recovery could extend if buyers establish price above 156.430. Stronger confirmation would require USDJPY to reclaim the 157.590 area and subsequently challenge the higher moving-average resistance around 159.330.

Key Levels:

• Support 1 (155.270): Immediate support beneath the current recovery and a nearby price area that could determine whether the rebound remains intact.
• Support 2 (154.110): A visible lower support area formed during the latest recovery from the September decline.
• Support 3 (152.950): Major lower support near the recent daily swing low.
• Resistance 1 (156.430): Immediate resistance directly above the current price and the first hurdle for the rebound.
• Resistance 2 (157.590): The next visible resistance zone and a former trading area above the recent breakdown.
• Resistance 3 (159.330): Major higher resistance close to the purple MA50 and blue MA100 region.

USDJPY 2-Hour Chart Analysis

(USDJPY 2-Hour Chart, Source: Ultima Markets MT5)

USDJPY maintains a bullish short-term bias on the 2-hour chart, with price at 156.217 holding above the red 16-period moving average (MA16), purple 50-period moving average (MA50), and blue 100-period moving average (MA100). The MA16 is rising above the MA50, while the MA50 has also moved above the MA100, producing a constructive bullish alignment as the longer MA100 begins to stabilise. After rallying toward 156.330, price pulled back toward the 155.600 region before recovering again, suggesting buyers remain active but have yet to secure a decisive breakout above the recent high.

RSI stands at 64.72, indicating firm momentum while still below the visible 70 level. A brief consolidation or correction remains possible beneath 156.330, but the short-term structure continues to favour buyers while price holds above the rising moving averages.

Breakout Scenarios:

• Bullish continuation is the higher-probability outcome, triggered by a decisive break and hold above 156.330. This would expose the next visible resistance around 156.695.
• Bearish correction is the lower-probability alternative, triggered by a failure to hold 155.965 followed by a decisive break below 155.600. This could bring price back toward 155.235 and the rising purple MA50 area.

USDJPY Pivot Indicator

(USDJPY 30-Minute Chart, Source: Trading Central)

USDJPY is trading at 155.99 on the 30-minute chart, remaining above the main pivot at 155.05 and preserving an immediate bullish bias. Price is consolidating after the latest advance rather than extending sharply higher, while RSI stands at 55.25 and remains comfortably between the visible 30 and 70 levels.

MACD is slightly positive at 0.05 but has flattened near the zero line, suggesting that bullish momentum remains intact but is currently subdued. The market therefore retains a constructive intraday preference while holding above 155.05, although stronger momentum is required for another upside extension.

• Bullish Breakout: The bullish preference remains valid while USDJPY holds above the 155.05 pivot. A renewed advance would target 156.62 first and 156.97 second, with confirmation strengthened if RSI holds firm around or above its current 55.25 reading and MACD remains above the zero line from its current 0.05 level.
• Bearish Rejection: The immediate bias would shift bearish following a decisive break below 155.05. The first downside target would be 154.46, followed by 154.11, with confirmation coming from RSI weakening from 55.25 toward the lower end of its range and MACD falling below the zero line.

Disclaimer Comments, news, research, analysis, price, and all information contained in the article only serve as general information for readers and do not suggest any advice. Ultima Markets has taken reasonable measures to provide up-to-date information, but cannot guarantee accuracy, and may modify without notice. Ultima Markets will not be responsible for any loss incurred due to the application of the information provided.