Dollar/Yen Forgot the 155 Low Existed
News context: With yields, risk sentiment, and dollar strength still driving flows, USDJPY remains one of the most important markets to watch in the current session.
Five days ago, USDJPY was sitting at 155.03 — the lowest print in weeks, buy-side stops accumulated below, and every retail account was positioned short. The classic setup. Since then, the pair has closed higher every single session. Today it hit 158.67. That is a 364-pip recovery in five trading days. The SSL sweep at 155.03 triggered exactly what ICT traders expected: a bullish expansion phase.
The question now is not whether the trend is up. It clearly is. The question is where the next buy-side liquidity pool sits. The answer is 159.86 — the prior weekly high — and that is the next destination.
Weekly Structure — Bullish Recovery From SSL Sweep
- 5-Week High / BSL Origin — 160.73 — three weeks ago
- SSL Sweep Low — 155.03 — swept two weeks ago
- This Week Open — 156.61
- Today High — 158.67
- Today Close — 158.57
- Next BSL Target — 159.86
Daily Analysis — Five Consecutive Higher Closes
Tuesday: 157.22. Wednesday: 157.61. Thursday: 157.89. Yesterday: 158.38. Today: 158.57. Every close higher than the previous. The daily structure is in a bullish expansion phase with no CHoCH visible. The nearest daily bullish OB sits at 157.56 to 157.86 — the Wednesday to Thursday consolidation zone. That is the pullback zone for long re-entries.
Today touched 158.67 intraday — a BSL level from last week. The close at 158.57 is slightly below it, suggesting some resistance. A Monday open above 158.67 confirms the break and puts 159.00 then 159.86 firmly in range.
Key Levels
| Level | Price | Type | Note |
|---|---|---|---|
| Daily Bullish OB | 157.56 – 157.86 | Support | Long re-entry zone on pullback |
| Today High / BSL | 158.67 | Resistance | Near-term buy-side touched |
| Today Close | 158.57 | Reference | Friday close |
| Target 1 | 159.00 | Target | Psychological resistance |
| Target 2 | 159.86 | Target | Prior weekly BSL |
| SSL Below | 155.03 | Deep Support | Original sweep low — must hold |
Trade Setup
- Bias — Bullish
- Long Entry Zone — 157.56 – 157.86 (daily bullish OB)
- Target 1 — 159.00
- Target 2 — 159.86
- Stop — Below 157.30
- Note — Five bullish daily closes in a row can produce a pullback early next week. The OB at 157.56 to 157.86 is where buyers should be looking to reload.
Economic Context
BOJ commentary remains the primary risk for yen direction. Any surprise hawkish language from Tokyo can knock 100 pips off USDJPY in a session. US data today — Retail Sales and Michigan Sentiment — support the Dollar side. As long as the Fed holds and the BOJ stays cautious, the bullish trend continues.
The Bottom Line
USDJPY swept the SSL at 155.03 and has not looked back. Five bullish days, clean structure, defined OB for pullback entries, and a clear target at 159.86. This is the bullish pair of the week. Any Monday pullback to 157.56 to 157.86 is a long. Target is 159.86.
The market swept the yen longs out at 155.03 and handed the baton to the Dollar. This is how the desk operates. They needed your stop losses to fund the move back to 160. You are welcome for the liquidity.
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