USDJPY Technical Analysis: Price Pinned at 155.67 Resistance

USDJPY is currently facing significant resistance at 155.675, defined by the convergence of the 100-hour EMA at 155.62 and the 4-hour 100-bar EMA at 155.675. This level is crucial as the price action is boxed in against this resistance. The previous rally was supported by buyers defending a critical support area between 154.33 and 154.472, which saw a bounce back during yesterday and early Asian trading. For a bullish scenario to prevail, the pair needs to break and establish itself above 155.675. If successful, it could open the door for further movements toward 156.17, with additional targets of 156.736 to 156.95, and the major November high at 157.872. Conversely, if the price fails to surpass this resistance, traders should monitor the 200-bar EMA at 155.277, as a break below this could signal a return to the support floor around 154.33.