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USDJPY Analysis: Breakout and Potential for Further Upside Movement
USDJPY has successfully surpassed the 150.88 resistance level, with the upward movement from 146.47 extending to a peak of 151.33.
As long as the price remains above the ascending trend line on the 4-hour chart, there is still potential for additional upward movement in the upcoming days, with the next target estimated around 160.00.
The initial support level to monitor is at 150.35. If the price breaks below this level, it could suggest a period of consolidation for the uptrend starting from 146.47, with the pair likely finding support at the rising trend line.
A decisive break below the support provided by the trend line could indicate the potential completion of the current uptrend.
GBPJPY DAILY CHART
I had to go to the daily chart looking for a chart level.
All that is left is a breakout above 191.191.32 as support and a monthly resistance above 185.
The key support area is distance at 187.94 as seen on this chart.
In a market like this look for the new high to act as a key resistance.
Be o alert in GBP as CPI, expected to dip, will be released overnight.
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USDJPY 15 Minute Chart – Is the BoJ lurking?
Just to show you there is a method to my madness when I follow the AT lines
As noted in my earlier post, key levels are at 150.24 and 150.85 (seen on a 4-hour chart) and USDJPY is trading within this range but upper end is exposed while above 150.50
Currently, an invisible hand seems to be back protecting 150.85, at least for now
CADCHF 4 HHOUR CHART
I have never looked at this chart so doing so now after Swiss Frank pointed it out.
The support area at .6508-15 needs to hold to keep the latest leg up alive.
However, only a break of the high would revive momentum on the upside.
This is a day where CAD (down) has reacted to a CPI data surprise.
tp at it.
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