USDJPY continues to be entrenched in an uptrend that began at 138.05, with the recent price movements from 146.55 appearing to be a consolidation phase within this broader upward movement.
Should we witness a breakout above the 146.55 resistance, it would likely signify a resumption of the uptrend, with the next notable target zone residing around 148.00.
Key support has now shifted to 144.53. It’s crucial to monitor this level, as a breach below it would suggest that the upward momentum, which started at 138.05, may have already concluded. In such a scenario, the pair could find support near 141.50.