FX.co ★ USD/JPY

Hello traders, It seems that the yen is not yet ready for a global reversal and growth, which buyers are taking advantage of in the USDJPY currency pair. Bulls quickly managed to rise to the first resistance level near 147.20, but it seems they are not going to stop there. The next targets for buyers are the levels at 147.75 and 147.95. Consolidation above these levels will be a significant prerequisite for further substantial growth. This will pave the way for buyers towards 148.80-149.20. If the US dollar also supports buyers with its growth, then after consolidating above 149.20-149.55, we may see the USDJPY price rise to 151.00-151.20. To cancel the upward movement, sellers need to consolidate below 146.65-146.50. In that case, it will likely be necessary to reconsider plans towards a decline, but this will be confirmed in practice.