USD/JPY is trading at 162.37 (-0.13%) as of July 09, 2026, during the European session, with a daily range of 162.24 – 162.61. The pair's current level is near its 52-week high of 162.63, indicating a sustained uptrend. The rate is above both the 20-day and 50-day simple moving averages, at 161.47 and 159.81 respectively, reinforcing the positive trend. The RSI(14) stands at 65.5, in neutral territory, suggesting that while the uptrend is intact, the pair is not yet overbought.

The Average True Range (ATR) over 14 days is 0.77, indicating moderate daily volatility. The pivot point for the day is 162.38, closely aligned with the current rate, while the first resistance level (R1) is at 162.68 and the first support level (S1) is at 162.06. Given the current price action, a break above 162.68 could signal further upside momentum, potentially targeting new highs, while a drop below 162.06 may indicate a correction.

The market may be underpricing the potential for USD/JPY to test new highs given its proximity to the 52-week peak and the sustained uptrend indicated by the moving averages. A forward catalyst for this view could be the release of US inflation data later this week, which may influence USD strength and, consequently, the USD/JPY rate.