The USDJPY pair is showing clear signs of a bullish trend. Technical indicators from Moving Average (MA) and Moving Average Convergence Divergence (MACD) are confirming that an upward trend is in progress, creating opportunities for prices to continue their upward momentum.
Currently, the USDJPY is trading above the MA line, suggesting that the short to medium-term trend is upward. Moreover, the upward-sloping MA indicates that buying momentum is becoming increasingly dominant, establishing a strong foundation for price gains.
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Similarly, the analysis on the one-hour chart aligns with this outlook. As seen on the 15-minute chart, there are also upward opportunities as the price has successfully broken out of a bearish channel, with the MACD further enhancing the bullish potential of USDJPY as the histogram begins to move into positive territory. If the scenario plays out as expected, the USDJPY may rise to test the resistance level of 156,805.
Technical Reference: buy as long as it stays above 155,785
Potential Take Profit 1: 156,650
Potential Take Profit 2: 156,805
Potential Stop Loss 1: 155,970
Potential Stop Loss 2: 155,785
