USDJPY: Price Targeting the $152.00 Resistance Value

The currency pair is targeting the $152.00 resistance value as it continues its upward move.
Buyers may remain dominant in the market soon.

USDJPY Weekly Price Analysis – January 12
The USDJPY market has been having high interference from buyers which made it easier for the Yen to maintain stable upside moves. Should the bulls increase their actions in the market, the USDJPY price targeting the $152.00 resistance value could be achieved soon which would lead to a good buy signal for the long traders.

USDJPY Market
Key Levels:
Resistance levels: $143.00, $144.00, $145.00
Support levels: $139.00, $138.00, $137.00

USDJPY Long-term Trend: Bearish (Daily Chart)
The USDJPY pair is on its way to the overhead trend line targeting the $152.00 resistance value in its long-term view. The price bar can be seen in green below the moving average which confirms its bearishness.

The sustained bearish pressure on the currency pair in the past few days has slowed the Yen price a bit in its recent price level. Meanwhile, the Yen is ready for an upward performance targeting the $152.00 upper high value.

The USDJPY price on the daily chart today is currently facing resistance and trading at the $145.33 correction level below the EMA-50. Hence, the pair might jump towards the $151.90 supply level amid renewed buying momentum if the sell traders reduce their tension in the market.

In addition, the daily stochastic indicates an upward trend; this means that the buy investors may likely continue with the bullish correction pattern targeting the $152.00 resistance value soon in its long-term outlook.

USDJPY Medium-term Trend: Bullish (4H Chart)
On the medium-term outlook, the USDJPY market now trades in a bullish trend targeting the $152.00 resistance value. The Yen price can be seen progressing forward above the supply levels due to the high impact of the bulls.

The sustained bullish pressure at a $144.82 high level during yesterday’s session made it possible for the buy investors to retain the upward strength in its recent high targeting the $152.00 resistance value.

Today, the price of USDJPY remains in an uptrend at the $145.33 supply value which is above the EMA-50. A possible breakout from the mentioned supply level will provide a higher float for buyers and prolong the ongoing recovery.

In addition, the USDJPY market is showing more upside possibilities as shown by the daily stochastic pointing upwards; we can certainly expect more gains and strength from the coin.

The pair may likely grow to retest the $148.34 resistance level while targeting the $152.00 resistance value soon in its medium-term time frame.

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