USD/JPY is maintaining its uptrend from the 138.05 level. As long as the support level at 144.53 holds, the recent pullback from 147.37 could be considered a period of consolidation within the overall uptrend. In such a scenario, there is potential for a further rise towards the 148.00 area after the consolidation phase.
However, if there is a breakdown below the 144.53 support level, it would suggest that the upside move has already completed at 147.37. In this case, the next target for the pair would be the 141.50 support level.
Traders should closely monitor the price action in USD/JPY, paying attention to the behavior around the 144.53 support level. This will provide insight into whether the pair continues its uptrend or undergoes a reversal in the near term.
