The USD/JPY chart is demonstrating bullish momentum, suggesting a potential move towards the 1st resistance level at 147.96. This resistance is significant due to its alignment with the 61.80% and 100% Fibonacci Projections, indicating a pivotal Fibonacci confluence. Interestingly, the same level, 147.96, is also identified as the 1st support, underscoring its role as both a potential target and a safeguard against price dips. Complementing this structure, the chart also presents a 2nd support at 141.63, further characterised as an overlap support.
