The USDJPY pair continues to exhibit a solid bullish trend, maintaining a stable price movement within an upward channel on the 1-hour chart. Although there was a brief dip that broke through previous low levels, this correction failed to weaken the primary trend structure. A swift recovery, bringing the price back into the bullish channel, indicates that the buyers still fully control the market, ensuring that the upward trajectory remains consistent.
Technical signals further reinforce the prospect of continued strength. The Moving Average has begun to trend upwards again, reflecting increasing buying pressure, while the ZigZag pattern showcases a series of waves moving higher consecutively. Both indicators suggest that the bullish momentum is in a healthy phase, and the chances for USDJPY to rise remain significant this afternoon during the European session, especially as the price stays within the channel and buyers continue to maintain their dominance.
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On the 15-minute time frame, the bullish structure remains clearly intact. The upward channel governing intraday movements shows that the short-term trend is still robust, while the strengthening MA provides additional signals of steady buyer momentum. The Stochastic rebound from the oversold area also indicates that positive momentum is poised to continue. With this combination of technical signals, USDJPY has a substantial opportunity to continue rising and test significant resistance at the 155.880 level.
Technical Reference: buy while above 155.385
Potential Take Profit 1: 156.530
Potential Take Profit 2: 156.880
Potential Stop Loss 1: 155.700
Potential Stop Loss 2: 155.385
