The currency pair still trades in a bullish market zone and may break up the above supply level.
Buyers may likely resume dominating the USDJPY market soon.
USDJPY Weekly Price Analysis – September 27
At the moment, the USDJPY is experiencing an uptick trend, and the price may break up the $161.95 previous barrier level, signaling a potential price recovery. The Yen price may continue trending and break up the $161.95 supply value if the bulls could add more aggression to their buying actions in the market. The target might be the $162.00 upper resistance level, suggesting a potential buy opportunity for the long traders.
USDJPY Market
Key Levels:
Resistance levels: $142.00, $143.00, $144.00
Support levels: $139.00, $138.00, $137.00
USDJPY Long-term Trend: Bearish (Daily Chart)
USDJPY rebounded today and may break up the $161.95 previous supply level as it begins its upward movement in its long-term view. The pair is trading near the key supply levels, signaling a bearish trend and potential price recovery.
The sustained bearish pressure on the currency pair at the $143.11 low mark in the last session has dropped the Yen price below the supply trend levels in its recent high. However, the bulls are about to take over the market as a new correction is taking place and may break up the resistance line soon.
Having rebounded, the USDJPY price on the daily chart today is currently facing the supply and trading at the $143.74 low level below the EMA-50, suggesting the return of the bulls to the market as they are warming up to take over the trend as the bullish trading session continues. Hence, a strong breakup above the $161.95 supply value would strengthen the bullish pressure, indicating increased buying momentum.
In addition, the daily stochastic indicates an uptrend continuation as it remains in an upward trend. Thus, the long traders may likely continue with the bullish correction pattern to further break up the $161.95 supply and extend the USDJPY price to reach the $162.00 upper resistance mark in the days ahead in its long-term outlook.
USDJPY Medium-term Trend: Bullish (4H Chart)
The USDJPY pair indicates an increased buying momentum as it breaks up the resistance trend line on the medium-term outlook. The price bars are above the moving averages, implying a bullish momentum. 
The intervention from the bulls at the $143.25 supply value in the previous action has made the price of USDJPY break up and stay above the supply trend line in its recent high.
At the writing time, the market value of USDJPY breaks up the EMA-50 at the $143.74 resistance value 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 market value of USDJPY is pointing upwards around level 45% of the daily stochastic, compelling more actions from the bulls, and this may break up the $147.21 barrier in the coming days, suggesting high gains for the buy traders in its medium-term outlook as we watch buyers taking over soon.
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