The USD/JPY chart is exhibiting bullish momentum, potentially for further upward movement, supported by the price staying above a major ascending trend line. The first support level is at 137.65 and the second is at 134.31, both identified as overlap supports, reinforcing the bullish sentiment. The chart suggests a possible bullish continuation towards the first resistance at 142.11, an overlap resistance level. A second resistance level is at 144.99, acting as a pullback resistance. In case of pullbacks, the intermediate support level at 138.94, a 50% Fibonacci retracement, may provide support.
