USDJPY: Is Going Up! Buy!

The currency pair remains strongly bullish.
Buy investors may take their position as desired.

USDJPY Weekly Price Analysis – September 30
The USDJPY market price is currently trading in a positive move. If the buy traders could increase their pressure massively and all the support holds the daily candle may break up the $144.991 and may extend to the $148.000 supply level and beyond.

USDJPY Market
Key Levels:
Resistance levels: $144.400, $144.500, $144.600
Support levels: $140.500, $140.400, $140.300

USDJPY Long-term Trend: BullishThe USDJPY pair is in a bullish trend zone in its higher time frame (1D). This is due to the low bearish momentum.

The buyers caused an increase in the market value of the Yen to a high of $144.188 value above the moving averages as the daily session opens today. This means that the buyers are dominant in the market at the time of writing this article.

The bullish breakout further rises to the $144.812 resistance mark above the two EMAs; this suggests an uptrend in the momentum of the price of the USDJPY market.

Thus, in response to this bullish continuation as indicated by the daily stochastic which is pointing up, the Yen may possibly breach the current resistance trend line and hit the $148.00 supply mark in the coming days in its higher time frame.

USDJPY Medium-term Trend: Bullish
The USDJPY pair is in a bullish trend in its medium-term outlook. The price bar can be seen above the moving averages. An indication of upward momentum.

Today’s 4-hourly chart opens on a bullish note at the $144.491 supply level and further jumps to a high at the $144.804 resistance mark above the moving averages, this means that the buy traders are having the market price of USDJPY at their disposal at the present.

Additionally, more upsides are likely as the currency pair is pointing upwards on the stochastic; this means that the buying pressure may likely continue, we can now expect the bulls to push the price of the Yen high to reach the $148.000 high level soon in its medium-term perspective.

Note: Forexschoolonline.com is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results.