USDJPY has been demonstrating an uptrend since its rise from 137.23, and the bullish momentum is expected to continue in the coming days. Traders should closely monitor the price action as the pair aims for the next target at the 141.00 area.
As long as the support level at 137.23 remains intact, the uptrend is likely to persist. This level has acted as a crucial support, and a break below it could signal a potential shift in the trend and trigger a downward move towards 135.50. Traders should exercise caution and consider implementing appropriate risk management strategies to protect their positions.
However, given the current bullish sentiment, the immediate focus is on the upside movement. A continuation of the uptrend could see USDJPY reaching the target at 141.00. This level is an important psychological resistance and could pose a significant challenge for the pair. Traders should closely watch the price action near this level for potential signs of a reversal or continuation.
In conclusion, USDJPY is currently in an uptrend from 137.23, and further upside movement is anticipated in the coming days. The next target is set at 141.00, while the key support at 137.23 remains a critical level to watch. Traders should remain vigilant and apply appropriate risk management measures to navigate potential market fluctuations and unexpected events.
