The USDJPY bullish run may increase Further.
Buy traders might take the lead in the market soon.
USDJPY Weekly Price Analysis – August 30
Amidst the market slump, the USDJPY bullish run may increase further as the market price is progressing towards the crucial resistance. If the buy traders could increase their pressure massively and all the support holds, the daily candle may break up the $162.00, setting the potential for a potential climb to the $170.00 upper supply level and beyond, indicating a strong buy signal for the long traders.
USDJPY Market
Key Levels:
Resistance levels: $143.00, $144.00, $145.00
Support levels: $137.00, $136.00, $135.00
USDJPY Long-term Trend: Bearish (Daily)
The USDJPY bullish run may increase further as the pair witnesses gradual growth in its higher time frame due to increased buying volume. The price is below the supply levels, suggesting a bearish trend.
The bulls caused an increase in the market value of USDJPY to a high of $145.00 below the moving averages as the daily session opens today, suggesting a pullback that may attempt the $162.00 previous barrier level.
Such a move suggests that the bullish run may increase further as buyers return to the Yen market to stage a play. This gives the bulls more strength to continue the upward move.
The stochastic oscillator signals an uptrend at around level 69%, suggesting the bullish run may increase further and set the stage for a potential climb to the $170.00 upper resistance level before the bears take over in the long term.
Thus, buyers must wait for the action before taking a position.
USDJPY Medium-term Trend: Bullish
The USDJPY pair is bullish. The chart below indicates that the bullish run may increase further and even targets a critical level as it trades above the supply levels, indicating a bullish trend in its medium-term outlook. 
Today’s 4-hourly chart opens on a bullish note at the $144.60 supply level and further jumps to a high at the $145.00 resistance mark above the moving averages, implying that the bullish run may increase further as the buy traders are having the market price of USDJPY at their disposal.
Thus, if the Yen’s price could sustain above the $157.56 high level, the potential rally may increase further to hit a significant level at the upper side.
The signal of the stochastic oscillator pointing up suggests the overall outlook shows upward momentum and may increase further to a $170.00 upper resistance level in the days ahead, offering a good entry point for the long traders in the medium-term.
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