The USDJPY pair has been displaying a growing bullish bias, signaling its intentions to potentially re-enter the bullish channel. This move reinforces expectations for the continuation of the bullish trend in both the intraday and short-term perspectives. It’s important to keep in mind that the next target for this pair is situated at the 149.00 level.
Despite some current negative readings in the stochastic indicator, which could lead to temporary sideways movement, the overall anticipation is for the uptrend to resume. This bullish outlook is contingent upon the price maintaining stability above the 147.65 level.
For today’s trading, the expected range lies between support at 147.65 and resistance at 149.30.
In summary, the USDJPY pair is making efforts to return to the bullish channel, reinforcing the expectation of a continued upward trend, provided that the price remains above the 147.65 level.