USDJPY Rebounds: A Return to Uptrend

In the wake of a rising trend line support on the 4-hour chart, the USDJPY pair managed to rebound from the 146.97 low and is now staring down the 148.80 resistance.

As the pair sustains its position above the rising trend line, we could anticipate the continuity of its uptrend from 140.25. A breakout beyond the 148.80 resistance could initiate a further uptick, possibly moving the pair towards the 150.00 area. Clearing this level would then shift focus to the next resistance level pegged at 151.90.

Nevertheless, it’s crucial to keep the key support at 146.97 on the radar. A break below this level would serve as a potential completion signal of the ongoing uptrend.