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- USD/JPY shows a strong uptrend
USD/JPY shows a strong uptrend
There is a strong uptrend on the hourly chart of the USD/JPY pair. The price has increased significantly and is steadily trading above the MA (200) H1 moving average, which is also pointing upwards, confirming the bullish sentiment. The pair is currently near its highs, testing the 148.75 level, and the next significant resistance level is at 149.20. The MACD indicator is in a positive zone, and its histogram shows large green bars, indicating a strong bullish momentum and the dominance of buyers. Although there is a slight decrease in the size of the last green MACD bars, which may signal a slight weakening of momentum or the beginning of a correction, the overall picture remains confidently bullish.
Resistance levels are: 149.20, 150.45, 151.25
Support levels are: 148.60, 147.55, 146.70
The main scenario for the pair's advance suggests a breakout of the session high of 149.20 and there may be an increase to 150.45 (April 2 high)
An alternative scenario suggests a breakout of the session low of 148.60 and there may be a decline to 147.55 (July 15 low)
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