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The USD/JPY pair has extended its upward movement along the anticipated bullish path, reaching the official target at 156.00 and peaking at 156.13.
From a technical standpoint, the pair is expected to maintain its upward trajectory, supported by favorable momentum from the simple moving averages and trading stability above the key support level of 154.90. Additionally, the pair continues to operate within the confines of an ascending price channel, as observed on the 4-hour chart.
With these factors in mind, the upward trend is likely to continue through today’s session. A break above 156.15 could accelerate gains, paving the way for a move to 156.70 and potentially extending to 157.30.
However, if the pair drops and stabilizes below 154.90, the bullish scenario would be postponed, though not invalidated. In this case, a retest of 153.70 might occur before renewed attempts to advance.
Caution: The release of high-impact US economic data, specifically the “Consumer Price Index – Annual and Consumer Price Index – Monthly,” may result in significant price volatility.
Geopolitical Risk Warning: The current risk environment remains high due to ongoing geopolitical tensions, making a wide range of scenarios possible.
Disclaimer: Trading in CFDs carries inherent risks. The analysis provided herein is not a recommendation to buy or sell, but rather an interpretation of the current price movement on the chart.
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