USD/JPY continues the upward push and confirms the breakthrough 21/9/2023

The USD/JPY pair jumped as we expected after it confirmed the breach of the strong resistance at 148.00, touching the official station required to be touched during the previous technical report at the price of 148.30, recording the highest level of 148.45.

Technically, we tend to be positive in our trading, relying on trading stability above 148.00, accompanied by the positive motivation of the simple moving averages that support the daily upward curve of prices.

From here, with the pair maintaining its intraday stability above 147.70, and above 147.00 in general, there may be a possibility to continue the upward trend, continuing towards the second target of the previous report, 148.70, and the gains may extend later towards 149.10 and 149.40.

We remind you that sneaking below 147.70 postpones the chances of a rise, but does not cancel them, and we may witness a bearish tendency aimed at retesting 147.00 before attempts to rise again.

Warning: Today we are awaiting high-impact economic data issued by the British economy: the Monetary Policy Committee’s vote on interest rates, the interest rate decision, and the monetary policy summary. We are waiting for the “Unemployment Benefits” indicator from the United States of America, and we may witness high price fluctuations at the time of the news release.

Note: Trading on CFDs involves risks. Therefore, all scenarios may be possible. This article is not a recommendation to buy or sell but rather an explanatory reading of the price movement on the chart.

S1: 147.70	R1: 148.70
S2: 147.10	R2: 149.10
S3: 146.75	R3: 149.70