USD/JPY RISES, BULLS AIM LARGER MOVE TOWARD 150.00
USD/JPY RISES, BULLS AIM LARGER MOVE TOWARD 150.00
The USD/JPY pair has cleared significant resistance levels at 141.20 and 142.00, indicating a bullish trend.
Short-term oscillators have shifted to a bullish configuration, with the RSI climbing above 50, signaling renewed buying interest and room for further price gains.
Immediate resistance lies at Monday’s intraday high at 149.10, and a decisive breakout above this level would expose stronger resistance near the February 25 low at 149.53.
Further gains beyond this would open the path to a retest of the psychologically significant 150.00 level.
The Bank of Japan's stance of sticking to ultra-loose monetary policy has led to a widening policy divergence with other central banks, particularly with the US Federal Reserve, supporting a widening of the differential between the 10-year US and Japanese bonds, which favored the US Dollar against the Japanese Yen.
Bulls must reclaim 151.00 ahead of challenging the Senkou Span A at 151.50. On further strength, up next lies the 200-day Simple Moving Average at 152.43.
if USD/JPY drops below 150.00, the next support would be the February 25 daily low of 148.57. Once hurdled, the next support would be the December 2024 swing low of 148.64.
