FX.co ★ HajiMohammedsanwalbasti | USD/JPY

USD/JPY M5

155.00. However, the overall sentiment remains bullish as long as this key support level holds. Zooming in on the price action, we notice a series of higher highs and higher lows, indicating a strong uptrend. This pattern suggests that buyers are in control, consistently pushing the price higher. Additionally, the moving averages are sloping upwards, further supporting the bullish bias.Fundamentally, several factors contribute to the bullish outlook for the USDJPY pair. The ongoing economic recovery in the United States, coupled with expectations of rising interest rates by the Federal Reserve, has bolstered demand for the US dollar. Meanwhile, the Bank of Japan's accommodative monetary policy stance continues to weigh on the Japanese yen, making it less attractive to investors.Geopolitical developments also play a role in shaping currency movements. Any signs of escalating tensions or uncertainty in the Asia-Pacific region could lead to a flight to safety, benefiting the US dollar as a reserve currency.However, it's essential to remain cautious of potential downside risks. Any unexpected shifts in central bank policies, geopolitical tensions, or adverse economic data releases could disrupt the current bullish momentum.In summary, the USDJPY pair remains poised for further upside gains, supported by technical and fundamental factors. Traders should monitor key support and resistance levels closely for potential trading opportunities and adjust their strategies accordingly to navigate the dynamic forex market landscape.Good afternoon colleagues, let's delve deeper into our analysis of the USDJPY pair. As we observe its current behavior, it's evident that the price is comfortably situated within the confines of the Bollinger Channel range. Presently, the pair is trading at 154.09, indicating a certain level of stability in its movement.In order to sustain the ongoing bullish momentum, it is imperative for the pair to breach the upper boundary of the channel at 154.38. Such a breakthrough would pave the way for a potential ascent towards medium-term highs, specifically targeting the 155.36 level. However, it's crucial to remain mindful of a significant resistance zone looming at 155.45, which could potentially cap further upside movement.Considering these factors, it's prudent for traders to closely monitor the price action around the aforementioned levels. A decisive move beyond 154.38 would signal a strengthening bullish bias, while encountering resistance at 155.45 could lead to a temporary halt or even a reversal of the upward trajectory.In summary, while the USDJPY pair currently USD/JPY M15

demonstrates resilience within the Bollinger Channel, the key to sustaining its bullish stance lies in surpassing the critical resistance level at 154.38. This would not only unlock potential gains towards medium-term highs but also bring into focus the challenging selling zone at 155.45. As always, prudent risk management and careful observation of price dynamics remain paramount in navigating the intricacies of the forex market.