Bullish momentum stalls amid resistance

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USD/JPY is currently trading around 154.57 after a strong rally. It seems that the bulls have run into pressure at the 155.00 resistance zone, while technical and market sentiment factors are also influencing the next direction of the pair.

Technical analysis:
Nearest resistance: 155.00 - a strong psychological resistance zone where the price is struggling to overcome.
Nearest support: 154.00 - a key support level, if broken, the price could fall further to 153.00.
EMA 34 and EMA 89: The price is trading around EMA 34 (short-term support), but is still above EMA 89, suggesting that the medium-term uptrend is still in place.

Price pattern: There are signs of a pause, with the possibility of forming a "Pullback" pattern or a slight reversal before continuing the main trend.

Personal opinion:
I see the market facing a dilemma between buying and selling forces. The recent increase in USD is supported by high US bond yields and positive market sentiment. However, if it fails to break above the 155.00 zone, USD/JPY may correct slightly before looking for new momentum to continue rising.

Trading strategy:
Buy: When the price breaks above 155.00, the next target is 156.00.
Sell: When the price falls below 154.00, the next support target is 153.00.

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