USD/JPY Potential Upward Movement

USD/JPY Long-Term Trend: Bullish

Key Resistance Levels: 150.400, 150.659, 150.958

Key Support Levels: 149.843, 149.91, 148.773

Daily Chart:

The price on the higher time frame has been in an uptrend recently after it tested a support level of 133.774 and bounced back. The pair has continued to break a few resistance levels which suggests further trend continuation.

USD/JPY Medium-Term Trend: Bullish

1-Hour Chart:

On the lower time frame, the pair is moving in the major trend’s direction. It broke a consolidation zone of 147.602 and 148.773 and has sustained above that. As of now the pair has broken and retested a minor level of 149.491 before continuing the momentum.

Signal Idea:

Buy Limit Order @ 149.843

TP @ 150.277

Stop Loss @ 149.409

Trade Safely 🙂