The USD/JPY pair is presently exhibiting a bullish trend, suggesting the potential for further price increases towards the first resistance level at 139.40. The first support level stands at 137.75, which functions as an overlap support, suggesting it could serve as a barrier against price declines. Similarly, the second support level at 136.25 also serves as an overlap support, further reinforcing its potential as a critical level against price decreases. If the upward trend continues, the price could encounter the first resistance level at 139.40, a swing high resistance that has historically halted price increases and triggered reversals. The second resistance level is at 140.89, acting as a pullback resistance where the price could potentially experience a reversal after a brief retracement.
