USD/JPY to continue its upward trend
The USD/JPY pair has moved higher on the one-hour timeframe after breaking the 155.83-156.75 resistance range and is now consolidating above this range.
The next technical targets include the 158.95 level (1.272 Fibonacci level) and the 161.76 level (1.618 Fibonacci level). The moving averages and the Ichimoku cloud support the continuation of the uptrend.
The key support range of 155.83-156.75 plays an important role in maintaining the uptrend, and a break of this level could change the trend.
Demand for the US dollar appears to continue to support this move.
The next technical targets include the 158.95 level (1.272 Fibonacci level) and the 161.76 level (1.618 Fibonacci level). The moving averages and the Ichimoku cloud support the continuation of the uptrend.
The key support range of 155.83-156.75 plays an important role in maintaining the uptrend, and a break of this level could change the trend.
Demand for the US dollar appears to continue to support this move.
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