The bullish momentum for USDJPY is now gaining significant traction on the 1-hour time frame, as evidenced by the shift in price movement structure from a Lower High – Lower Low (LH-LL) pattern to a Higher High – Higher Low (HH-HL) formation. This structural shift indicates a transfer of strength from sellers to buyers, signaling the early stages of bullish dominance. The consistent rise in prices strengthens the positive sentiment and opens avenues for a potential upward trend in the short term.
From a technical perspective, the current upward trajectory of the Moving Average (MA) reinforces that the trend is reversing into a bullish phase. Additionally, the MACD indicator, which is positioned in positive territory, suggests that buying momentum continues to build, providing further supportive signals for price increases. Given these technical factors, USDJPY is likely to continue its ascent and test the next resistance level unless fundamental pressures shift market sentiment.
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Technically, the MACD indicator currently being in positive territory strengthens the signal that buyers are regaining control of the market. As long as prices remain above the nearest support area, the possibility for further upside remains open, with targets aimed toward the subsequent resistance. On the 15-minute time frame, a bullish channel continues to dominate price movements. The consistent upward movement of MA and MACD remaining in positive territory serve as evidence that the bullish momentum remains robust. With these signals, USDJPY has the potential to continue rising toward the resistance range of 149.190.
Technical Reference: buy as long as above 148.145
Potential Take Profit 1: 148.900
Potential Take Profit 2: 149.185
Potential Stop Loss 1: 148.420
Potential Stop Loss 2: 148.145
