Next move for USD/JPY 164.712

Bullish Scenario:

• If the price retraces and finds support around 160.251, it could bounce back up, continuing the uptrend towards the 164.712 target.
  
• Confirmation of the uptrend would be a bounce off the 100-period SMA (currently around 157.298) and maintaining above the 160.251 support level.
  

Bearish Scenario:

• If the price fails to hold above the 160.251 support level and breaks below the 100-period SMA, it could indicate a deeper correction towards the 155.669 level (200-period SMA).
  
• Breaking below the 155.669 level would suggest a reversal of the current uptrend.
  

Key Factors to Watch:

1. Support and Resistance Levels: Watch how the price interacts with the 160.251 support level and the 164.712 resistance level.
   
2. Moving Averages: Keep an eye on the 100-period and 200-period SMAs for dynamic support and resistance.
   
3. Volume: Increased volume on a breakout above 164.712 or a breakdown below 160.251 can confirm the direction of the next major move.
   
4. Fundamental News: Economic data, central bank policies, and geopolitical events can significantly impact the USD/JPY pair.