The currency pair is threatening for the next jump.
Sellers remain dominant in the market at the moment.
USDJPY Weekly Price Analysis – August 23
At the moment the USDJPY is threatening for the next jump as the selling pressure seems to be ending soon. The price may likely soar higher and break up the $161.95 high mark if the bulls could add more aggression to their buying actions in the market. The potential rally might lead the Yen price to target the $170.00 upper resistance value, resulting in a buy signal and a good entry point for the long traders.
USDJPY Market
Key Levels:
Resistance levels: $140.00, $150.00, $160.00
Support levels: $130.000, $129.000, $128.000
USDJPY Long-term Trend: Bullish (Daily Chart)
The USDJPY is in a bearish market, threatening the next jump as the selling pressure is about ending in its long-term view. 
The sustained bearish action on the currency pair to a low of $145.19 in the past few days has kept the Yen price below the supply trend levels in its recent high. Meanwhile, a new correction by the bulls is spotted, threatening for the next jump.
The USDJPY price on the daily chart today is currently facing resistance and trading at the $146.89 correction level below the EMA-50, suggesting a bearish momentum threatening the next jump.
Therefore, if the bulls should increase their tension in the market, the price tendency may likely break the $161.95 resistance value, resulting in an intraday gain for the buy traders.
In addition, the USDJPY pair is threatening for the next jump as indicated by the daily stochastic pointing upwards. Hence, the buy investors may likely continue with the bullish correction pattern to break up the $161.95 previous barrier and further extend to the $170.00 upper resistance mark in the days ahead in its long-term outlook.
USDJPY Medium-term Trend: Bullish (4H Chart)
The USDJPY pair is showing a bearish display, threatening the next jump in its medium-term perspective. The price bars can be seen below the moving averages due to the high inflow from the sell traders. However, there is about to be a turnaround for the USDJPY buy traders as the bears are about to be weighed down for the bulls to dominate.
The intervention from the bears at the $145.19 support value in the past few hours has made the Yen price stay below the supply trend line in its recent low.
The market value of USDJPY at the $145.36 low level below the EMA-50 shortly after the commencement of the 4-hourly chart today is due to a low bullish momentum. However, positive sentiment is returning to the market soon as sellers’ activities seem to be winding up.
Thus, the currency pair may experience a trend reversal at the $145.36 support value if the bulls could add more aggression to their buying forces, the $158.72 previous high could be retested soon.
In addition, the USDJPY is threatening the next jump as the market trades at the oversold region. The stochastic is also showing the market is approaching the oversold region, suggesting the pair is threatening the next jump and this might compel the bulls to resume the bullish trend to retest the $158.72 supply level, extending to a $170.00 upper resistance level in the days to come in its medium-term outlook.
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