The USDJPY pair is showing strong upward potential after successfully breaking through a bearish channel, indicating a shift toward a bullish trend. This breakout enhances the argument that this currency pair could continue its upward movement. Technical indicators such as the 24-period Moving Average (MA) suggest that the price has moved above the MA line, signaling that selling pressure is easing and upward momentum is starting to build.
Moreover, the MACD indicator aligns with the bullish outlook, with the MACD line moving above the signal line and the histogram reflecting increasing positive values. The combination of signals from the MA and MACD reinforces the possibility that USDJPY may continue its rise towards the next resistance level.
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The USDJPY pair indicates potential upward movement on the 15-minute chart above following the breakout from the bearish channel, signaling a possible shift to a bullish trend. Additionally, the MACD gives a positive signal with the MACD line situated above the signal line and a histogram reflecting positive values. If the scenario aligns, USDJPY is poised to test the resistance level at 156.500.
Technical Reference: buy as long as it remains above 156.285
Potential Take Profit 1: 156.285
Potential Take Profit 2: 156.500
Potential Stop Loss 1: 155.340
Potential Stop Loss 2: 155.075
