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USDJPY is trading very close to 150. In Ichimoku cloud terms trend remains bullish as price is clearly well above the Kumo (cloud) without providing any sign of weakness. Price continues to trade above both the tenkan-sen (red line indicator) and the kijun-sen (yellow line indicator). Both provide support at 149.22 and 148.75 respectively. The Chikou span (black line indicator) remains above the candlestick pattern (bullish). So far no sign of a reversal. Price has paused its advance right below the recent highs at 150.17. 2022 highs around 152 are also very close, implying that this entire zone 150-152 is very important resistance. As long as price holds above 148.75 we expect the 150 level to be broken and why not form new higher highs above 152.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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