USD/JPY: Dollar Chases Higher Grounds Ahead of Key Area. It’s Make It or Break It.

Bears are lurking in the near distance, ready to jump in and weigh on the pair. Here are the key levels to watch.

💸 Chart Watch: Key Levels in Play

• The US dollar was making steady progress against the yen on Tuesday, with the USDJPY pushing toward ¥154.50 as traders positioned ahead of what could be a decisive technical test.
• The retail traders’ darling is approaching a major resistance area between ¥154.80 and ¥155.00 — a level that has already rejected upside attempts this year.
• Back in mid-February, the dollar topped out near ¥154.80 before reversing sharply, tumbling to its 2025 lows around ¥140.00. With that history fresh in traders’ minds, the same zone is once again drawing attention as a potential make-or-break point.

👀 Look from Above

• The stakes are high. A sustained push above ¥155.00 would signal renewed dollar dominance and could accelerate carry-trade demand, as wide US–Japan yield spreads continue to favor the greenback.
• But if the level fails again, short-sellers may jump in quickly, aiming for another sharp pullback similar to February’s reversal.
• With Japan’s Ministry of Finance staying silent for now, traders remain on intervention watch. The next few sessions could decide whether the dollar-yen breaks new ground or turns back from yet another wall.