USDJPY Approaches Resistance: Awaiting Breakout
USDJPY is in a strong uptrend, nearing the key resistance level at 149.588 (Fibonacci 0.618).
If this level is broken, the price may continue its upward momentum towards targets like 150.416 and 151.755. However, if it fails to break through, a correction could pull the price back to the support area around 148.250.
Decisions from the Fed and the Bank of Japan will be key in determining the next direction for this currency pair.
If this level is broken, the price may continue its upward momentum towards targets like 150.416 and 151.755. However, if it fails to break through, a correction could pull the price back to the support area around 148.250.
Decisions from the Fed and the Bank of Japan will be key in determining the next direction for this currency pair.
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