The USDJPY currency pair is demonstrating increasingly robust bullish potential as a bullish channel has formed on the H1 timeframe. The current price is stable above the 24-period Moving Average (MA), which acts as a dynamic support level while indicating that the upward trend remains intact.
Additionally, the MACD indicator is providing positive signals, with the histogram gaining strength in the positive territory and the signal line trending upwards. This combination suggests that the buying momentum is strengthening, thereby opening up the opportunity for further price increases towards the nearest resistance levels.
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On the 15-minute timeframe, USDJPY exhibits a strong bullish outlook, as prices remain above the upward trendline. This pattern confirms that the upward trend is being maintained in the short term. The ZigZag indicator is forming higher lows, further corroborating that bullish momentum is ongoing. As long as the price stays above the trendline, there is potential for an upward move towards the resistance level at 150.520.
Technical Reference: buy as long as it remains above 149.995
Potential Take Profit 1: 150.280
Potential Take Profit 2: 150.520
Potential Stop Loss 1: 149.260
Potential Stop Loss 2: 148.995
