USD/JPY
USD/JPY is hesitant to develop an uptrend, at risk of an increase in divergence. However, time is working in favor of the dollar, as the consolidation during the divergence weakens the latter. A break above the nearest resistance at 149.72 opens the target of 150.79.
Subsequently, there could be a breakthrough towards 151.95 or slightly lower, towards the embedded line of the price channel. If the price consolidates below the level of 148.82, it will bring back interest to moving towards the target level of 145.99.
On the 4-hour chart, we noticed that the divergence is getting weaker. At the same time, the signal line is turning up from the zero line. There's a good chance that the pair could break through 149.72 and the price would rise further.
