UJ continues its upward trend above record highs
Updated
Hello dear friends, today USDJPY continues its stable upward trend at 148.05.
From a technical perspective, the sustainable strength and acceptance level at 148.00 can be seen as a new catalyst for bullish traders. Furthermore, the oscillators on the 4-hour chart are holding in positive territory and are still far from being overbought. Conversely, this indicates that the path of least resistance for the USD/JPY pair is upwards and supports the prospect of an extended upward trajectory.
Therefore, some upcoming actions aimed at testing the next relevant resistance barrier near the 148.80-148.85 area, on the way to the round figure of 149.00, seem like a distinct possibility. The momentum could potentially extend further and push the USD/JPY pair towards the 149.70 region before the bullish camp targets reclaiming the psychological level of 150.00 for the first time since October 2022.
From a technical perspective, the sustainable strength and acceptance level at 148.00 can be seen as a new catalyst for bullish traders. Furthermore, the oscillators on the 4-hour chart are holding in positive territory and are still far from being overbought. Conversely, this indicates that the path of least resistance for the USD/JPY pair is upwards and supports the prospect of an extended upward trajectory.
Therefore, some upcoming actions aimed at testing the next relevant resistance barrier near the 148.80-148.85 area, on the way to the round figure of 149.00, seem like a distinct possibility. The momentum could potentially extend further and push the USD/JPY pair towards the 149.70 region before the bullish camp targets reclaiming the psychological level of 150.00 for the first time since October 2022.
Note
good luckNote
The DXY index (which measures the greenback's fluctuations against six major world currencies) traded at 105.4 points.Note
UJ is up
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