USDJPY has shown more bullish momentum as the day comes to the end of the week. The USDJPY price has now stretched above the 100-hour moving average (MA) and a key swing area, signaling potential further upside. Earlier today at session lows, the buyers leaned near the 200-hour MA, reinforcing support and providing a base for the current upward movement.
Key Technical Observations:
100-hour MA Breakout: The price has broken above the 100-hour MA (149.18), indicating bullish control.
200-hour MA as Support: Buyers held firm near the 200-hour MA (148.72), confirming it as a key support zone.
Ascending Channel Formation: The price is moving within an upward channel, with resistance and support levels a good ways away.
Resistance Levels:
149.656: The high from Friday150.00: Natural resistance target150.11 - 150.28: Swing area and high for the weekSupport Levels:
149.18 (100-hour MA): Holding above this level keeps the bullish outlook intact.148.72 (200-hour MA): A break below this could shift sentiment bearish.148.56 to 148.72: Swing area and near the upward sloping channel trend line.Outlook:
Bullish Case: Holding above 149.18 and a move toward 150.00+ could signal further buying pressure.Bearish Case: If price falls back below 149.18, sellers may regain control, targeting 148.72 and lower.Traders should watch price action around these levels for confirmation of the next trend direction.
This article was written by Greg Michalowski at www.forexlive.com.Hence then, the article about usdjpy breaks above 100 hour ma can bulls push towards 150 00 was published today ( ) and is available on forex live ( Middle East ) The editorial team at PressBee has edited and verified it, and it may have been modified, fully republished, or quoted. You can read and follow the updates of this news or article from its original source.
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