The USDJPY price recently tested the support line of a bullish channel, rebounding strongly and indicating a potential continuation of the upward trend. Analysts anticipate a move towards the next target at 162.00.
Supporting this bullish outlook is the EMA50, currently guiding the price from below. However, market watchers caution that a break below 160.35 could signal a shift in momentum, potentially initiating a bearish correction in the short term.
In terms of trading expectations, the USDJPY is projected to fluctuate between support at 160.10 and resistance at 161.80.
This development underscores the current resilience of the bullish trend, pending further market dynamics that could influence near-term price action.