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USD/JPY Gains Momentum, Eyes Higher Targets

by Daisy

The USD/JPY pair is poised for a bullish upturn, maintaining a narrow trading range near the lower boundary of its bullish channel. Analysts anticipate a renewed upward surge, aiming to test the 162.00 mark. A successful breach could propel the pair towards the 164.20 region in the short term.

The current bullish outlook remains intact as long as the price holds above 161.25. However, a break below this critical support level might signal a potential bearish correction before a possible resumption of the uptrend.

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Anticipated Trading Range

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Support: 161.00
Resistance: 162.50

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