The USDJPY pair flashes a bullish pattern.
Buyers remain dominant in the market.
USDJPY Weekly Price Analysis – November 22
At the moment, the USDJPY pair is gaining momentum as it flashes a bullish pattern, showing potential for further gains. The price may surge to break up the $161.95 high mark if the bulls could add more aggression to their buying actions in the market. Hence, the target might be the $170.00 upper resistance value, resulting in an intraday gain and a buy signal for the long traders.
USDJPY Market
Key Levels:
Resistance levels: $155.00, $156.00, $157.00
Support levels: $130.00, $129.00, $128.00
USDJPY Long-term Trend: Bullish (Daily Chart)
The USDJPY pair flashes a bullish pattern as it remains pressured above the supply levels in its long-term view. The bullish pressure on the currency pair in the past few days has sustained the Yen price above the supply trend levels in its recent high.
USDJPY price on the daily chart today flashes a bullish pattern at the $155.88 resistance level above the EMA-50, signaling strong market opportunities for long traders.
Therefore, if the bulls should increase their tension in the market, the price tendency may break up the $161.95 resistance value, resulting in an intraday gain for the buy traders.
In addition, the daily stochastic flashes a bullish pattern by pointing upwards, indicating that the buy investors may likely continue with the bullish correction pattern to break up the $161.95 supply value and further extend the USDJPY price to reach the $170.00 resistance mark soon in its long-term outlook.
USDJPY Medium-term Trend: Bullish (4H Chart)
USDJPY flashes a bullish pattern and remains in a positive movement today. The price is strongly trading in a bullish momentum in its medium-term time frame. This looks nice for the long trader and signifies a buy signal. 
In the previous actions, the pair has been having high interference from buyers, making it easier for the Yen to maintain stable upside moves in its recent high.
The market value of USDJPY flashes a bullish pattern as the price jumps to a $155.34 high level above the EMA-50 shortly after the commencement of the 4-hourly chart today, indicating that positive sentiment is returning to the market. Thus, buyers must add more pressure to their activities to move the market beyond the current price level.
In addition, the USDJPY flashes a bullish pattern as the market remains in an uptrend on the daily signal, suggesting a continuation of the bullish pattern.
As a result, the pair may grow to retest the $156.74 resistance level and extend to reach the $170.00 upper resistance level in the days ahead in its medium-term time frame.
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