USD/JPY Daily Update: Sustaining the Uptrend
The USD/JPY price has maintained its upward trend, recently reaching a high of 150.00, marking the peak since August. Although the price experienced a brief dip, it quickly rebounded and is currently positioned at the 150.00 level. In the four-hour time frame, the price is above the 50 EMA (Exponential Moving Average), which supports the ongoing uptrend.
Key Levels:
Active Support: 148.30 and 146.30
Active Resistance: 152.00
USD/JPY Daily Update: We believe the price will continue to uphold its uptrend and aim for the next resistance level at 152.00. It’s important to note that the price may pull back to around 149.30 before resuming its upward journey and hitting further targets.
On the other hand, if the price falls below 148.30, it could signal a shift in momentum, leading to a bearish scenario with potential declines to 147.00
