The USDJPY currency pair has embarked on today’s trading session with a notable positive momentum, successfully breaching the pivotal resistance level at 146.55. This breakthrough signals a potential halt to the prevailing bearish correction and a resumption of the primary bullish trend. The pair is now poised to aim for new gains, initially targeting 147.55, with the possibility of extending the ascent to 148.40 as the subsequent key milestones.
The presence of the EMA50 (Exponential Moving Average 50) beneath the price serves to fortify the positive outlook. However, it is essential to remain vigilant, as the validity of this bullish perspective hinges on the ability to sustain levels above 146.55, followed by 145.95. Holding below these critical levels could potentially alter the outlook.
For today’s trading session, the projected trading range is expected to extend from the support level at 146.10 to the resistance level at 147.60.
In summary, the USDJPY currency pair has achieved a significant breakthrough by surpassing the crucial resistance at 146.55. This development suggests a potential end to the ongoing bearish correction and a resumption of the primary bullish trend. The presence of the EMA50 further bolsters the positive outlook. However, vigilance is required to ensure that levels above 146.55 and 145.95 are maintained to preserve the bullish perspective.