The currency pair is in a bearish market zone attempting the next Bullish Momentum
The bulls may take over the USDJPY market soon.
USDJPY Weekly Price Analysis – December 1
The USDJPY price is set for the next bullish momentum after a long dip dump by the bears. In case buyers manage to break up the pattern’s resistance trend line at the $151.90 high value, a possible relief rally may drive the Yen market price to the $152.00 upper resistance mark and beyond, which indeed will be a turnaround for the buy traders.
AUDJPY Market
Key Levels:
Resistance levels: $148.00, $149.00, $150.00
Support levels: $140.00, $139.00, $138.00
USDJPY Long-term Trend: Bearish (Daily Chart)
USDJPY market price is bearish on the higher time frame. The Yen price can be seen in green below the moving average line and is set for the next bullish momentum. 
The high order flow from the bears during yesterday’s session also added to this bearishness in its recent price level. However, the bulls are now in the market for the next bullish momentum.
Today, the buy traders corrected a $147.47 supply value which further increased to the $147.81 supply mark below the moving averages to resume its bullish momentum. This indicates an established bull trend.
Furthermore, if the bullish momentum persists, a breakout above the $151.90 previous high value with a daily candle closing will signal a strong buy signal for the long traders.
Adding to that, further downside is unlikely as indicated by the daily stochastic which remains in an uptrend. This might expose the USDJPY price to the $152.00 upper resistance level as the bulls set for the next bullish momentum in its long-term outlook.
USDJPY Medium-term Trend: Bearish (4H Chart)
The USDJPY price also trades in a bearish market in its medium-term perspective. Meanwhile, buyers are set for the next momentum as we can see new correction moves in place.
Sellers acted bravely during yesterday’s session by dumping the price of USDJPY to a $146.61 low value below the moving averages, this makes it possible for the pair to remain below the supply levels in its recent price level.
Earlier today, the bulls’ successes fully resumed and pushed the price of USDJPY to a high at $141.83 level below the moving averages after the 4-hour chart opened today. Moreover, these new moves will strengthen the next bullish momentum.
Hence, if the buy traders successfully keep the USDJPY prices above the $151.85 high level, the target might be the $152.00 upper supply level soon as the bulls are getting set for the next bullish momentum in its medium-term time frame.
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