Continued Bullish Momentum Towards New Target
On the USD/JPY 4-hour chart, the price has broken out of an ascending triangle pattern and is continuing its bullish momentum. This shows that the bullish trend is still in place, especially since the 34 and 89 EMAs are supporting the bullish trend.
After breaking the resistance zone around 151.5, the price could correct slightly to the support zone near the breakout zone before continuing to move higher, with a potential target at the 153-154 zone.
With this trend, if there is no drastic change in economic news or data, the bullish momentum is likely to continue in the short term.
After breaking the resistance zone around 151.5, the price could correct slightly to the support zone near the breakout zone before continuing to move higher, with a potential target at the 153-154 zone.
With this trend, if there is no drastic change in economic news or data, the bullish momentum is likely to continue in the short term.
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