The USDJPY currency pair has shown remarkable strength, extending its upward move from 138.42 to as high as 143.86. The bullish momentum suggests that further gains could be expected in the coming days, with the next target set at the 145.00 area.
Traders and investors should keep a close eye on the price action and key levels to gauge the potential continuation of the uptrend. Immediate support is currently seen at 142.67. A minor retracement towards this level would not be uncommon during a bullish trend. However, it is important to note that a breakdown below 142.67 could bring the price back to the next support level at 141.21. Only a clear and sustained break below this level would indicate a potential completion of the uptrend.
In summary, USDJPY has extended its upward move from 138.42 to 143.86, indicating sustained bullish momentum. Further upside gains could be anticipated, with a target set at the 145.00 area. Immediate support is located at 142.67, and a breakdown below this level could lead to a test of the next support level at 141.21. Traders should remain vigilant, adapt risk management techniques, and stay informed about market dynamics when trading the USDJPY pair.
