USD/JPY Maintains Upward Momentum Within Channel
In the USD/JPY chart, the price is moving within a clear ascending channel, with higher highs and lows. The 34 EMA and 89 EMA act as strong support, indicating that the bullish momentum is still dominant. Currently, the price is hovering near the middle line of the channel, after bouncing from the 34 EMA and moving in an upward direction.
However, a short-term correction may occur before the price resumes the uptrend. The potential scenario is that the price corrects to near the channel support or the 34 EMA around 149,500 - 149,400, before bouncing back. If the resistance level is broken, the next target for the uptrend will be the 151,000 area.
However, a short-term correction may occur before the price resumes the uptrend. The potential scenario is that the price corrects to near the channel support or the 34 EMA around 149,500 - 149,400, before bouncing back. If the resistance level is broken, the next target for the uptrend will be the 151,000 area.
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