USDJPY resistance retest at 160.57US DOLLAR VS JAPANESE YENTRADENATION:USDJPYTradeNationThe USDJPY currency pair continues to display a bearish outlook, in line with the prevailing downward trend. Recent price action suggests an oversold bounce, potentially setting up for another move lower if resistance holds. Key Level: 160.57 This zone, previously a consolidation area, now acts as a significant resistance level. Bearish Scenario (rejection at 160.57): A failed test and rejection at 160.57 would likely resume the bearish momentum. Downside targets include: 158.10 – Initial support 157.50 – Intermediate support 156.80 – Longer-term support level Bullish Scenario (breakout above 160.57): A confirmed breakout and daily close above 160.57 would invalidate the bearish setup. In that case, potential upside resistance levels are: 161.00 – First resistance 161.40 – Further upside target Conclusion USDJPY remains under bearish pressure, with the 160.57 level acting as a key inflection point. As long as the price remains below this level, the bias favours further downside. Traders should watch for price confirmation around that level to assess the next move. This communication is for informational purposes only and should not be viewed as any form of recommendation as to a particular course of action or as investment advice. It is not intended as an offer or solicitation for the purchase or sale of any financial instrument or as an official confirmation of any transaction. Opinions, estimates and assumptions expressed herein are made as of the date of this communication and are subject to change without notice. This communication has been prepared based upon information, including market prices, data and other information, believed to be reliable; however, Trade Nation does not warrant its completeness or accuracy. All market prices and market data contained in or attached to this communication are indicative and subject to change without notice.