Breaking Through Bollinger Bands and Bullish MACD; USDJPY Poised for Further Gains

The USDJPY currency pair is demonstrating a strong bullish potential after successfully breaking above the upper boundary of the Bollinger Bands. This movement suggests an increase in volatility that likely supports an upward trend.

The MACD technical indicator reinforces this bullish signal, with the MACD line positioned above the signal line and moving within positive territory. This indicates solid upward momentum, boosted by prevailing buying interest.

Advertisements

Regulated

FBS

This company is verified and recommended for traders.

FBS: Cyprus 16 years MT4/MT5 Full Licence
Recommended

Regulated

OctaFX

OctaFX: Cyprus 14 years MT4/MT5 Full Licence
Recommended

Regulated

FXCM

This company is verified and recommended for traders.

FXCM: Australia 26 years MT4/MT5 Full Licence
Recommended

Regulated

MIFX MONEX

MIFX MONEX: Indonesia 25 years MT4/MT5 Full Licence
Recommended

Supporting this analysis, the one-hour chart aligns with the bullish outlook. Moreover, the 15-minute chart reveals additional upside potential as the price forms a bullish channel, and the MACD enhances the bullish outlook for USDJPY. If the scenario unfolds as anticipated, USDJPY could rise to test the resistance level of 158.740.

Technical References: buy while above 157.320
Potential Take Profit 1: 158.480
Potential Take Profit 2: 158.740
Potential Stop Loss 1: 157.560
Potential Stop Loss 2: 157.320