USDJPY: Bulls advance toward 61.8 % retracement barrier ...Middle East

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Importantly, every pullback over the past few hours found buyers right at yesterday’s highs near 145.76. That “old-high-becomes-new-support” pattern underscores a market leaning bullish and using shallow dips to reload. Unless the pair slips back below that shelf—and the 50 % midpoint of the May range at 145.375—the path of least resistance remains higher, with traders eyeing a full breach of 146.24 that could open the door toward higher levels in the pair.

Single-line key levels • resistance: 146.148 • 61.8 % retrace • resistance: 146.25 • swing-zone top • support: 145.76• prior highs/short-term floor • support: 145.375 • 50 % May range • support: 145.15 • 100-hour MA

This article was written by Greg Michalowski at www.forexlive.com.

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