USD/JPY is trading at 161.68 (+0.08%) as of June 24, 2026, during the European session, extending its recent uptrend. The pair has reached a fresh 52-week high, with the current rate sitting at the upper end of its day range of 161.46 – 161.73. The previous close was 161.55, indicating a modest gain. The overall trend remains bullish, as USD/JPY is trading above both its 20-day and 50-day simple moving averages at 160.32 and 159.23, respectively.

From a technical standpoint, the Relative Strength Index (RSI) stands at 77.3, signaling that the pair is in overbought territory, which may suggest a potential for a pullback. However, the Average True Range (ATR) of 0.48 indicates relatively contained daily volatility. Key levels to watch include the pivot at 161.54, with resistance at R1: 161.77 and support at S1: 161.34. The pair is currently testing the R1 level, having moved above the pivot.

Given the overbought RSI reading, the market may be underpricing the likelihood of a near-term correction. Nevertheless, the prevailing uptrend remains intact as long as the pair holds above its moving averages. A break below the S1 support at 161.34 could be the first sign of a reversal, while sustained trading above R1: 161.77 may propel the pair further upwards. The next catalyst will be the upcoming US economic data releases, which could either validate or invalidate the current uptrend.