USDJPY Maintains Uptrend: Key Levels Analyzed

Looking at the USDJPY pair, it seems to be holding its ground above a rising trend line on its 4-hour chart, a promising sign that the pair is persisting along the bullish trend that started at 140.25.

As long as the price stays obedient above this highlighted trend line, the pullback it experienced from 148.80 could potentially be interpreted as mere consolidation of the uptrend. And a successful breach of 148.80 might set off a further upward spree towards 150.00. Should the pair conquer this level, we could have our gaze set on 151.90.

However, we must consider the current support at 147.60. A plunge below this level might suggest that we’re in for a lengthier consolidation of the uptrend. At this stage, we could anticipate the pair to find support along the trend line, this time at around 146.60.

Nonetheless, be mindful that a break below the trend line support could hint at the conclusion of the current uptrend.