USD/JPY has made a breakout above the resistance level at 146.55. This breakout indicates a resumption of the upward movement from 138.05. As a result, it is plausible to expect further upside potential in the coming days, with the next target set at the 148.00 area.
For immediate support, traders should focus on the level at 145.60. If a breakdown occurs below this level, it could prompt a retracement back towards the key support level at 144.53. A subsequent move below 144.53 has the potential to trigger further downside movement towards the target at 141.50.
Traders should closely observe price action and monitor the behavior of USD/JPY at these critical levels to determine the continuation or potential reversal of the ongoing trend.
