The USDJPY pair is currently trading within a well-defined upward channel, showcasing a bullish trend that has been unfolding over recent periods. This upward trajectory is supported by a series of higher lows, with the most recent formation occurring near the 147.40 support level.
The pair's ability to hold above this level and potentially bounce off the trend-line suggests a strong foundation for further upside movement. A key level to watch in this context is 147.80, which, if breached to the upside, would likely provide further confirmation of the bullish momentum. Such a break would not only reinforce the existing upward trend but also potentially accelerate the pace of the advance.
In conclusion, the USDJPY pair's current technical setup appears conducive to further upside movement, driven by the bullish trend within the upward channel and supported by the recent higher low formation. A break above 147.80 would be a key catalyst for accelerating the bullish momentum, potentially paving the way for a move towards higher resistance levels.
The pair's ability to hold above this level and potentially bounce off the trend-line suggests a strong foundation for further upside movement. A key level to watch in this context is 147.80, which, if breached to the upside, would likely provide further confirmation of the bullish momentum. Such a break would not only reinforce the existing upward trend but also potentially accelerate the pace of the advance.
In conclusion, the USDJPY pair's current technical setup appears conducive to further upside movement, driven by the bullish trend within the upward channel and supported by the recent higher low formation. A break above 147.80 would be a key catalyst for accelerating the bullish momentum, potentially paving the way for a move towards higher resistance levels.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.