USDJPY Bullish Projection

2024年11月22日

The USD/JPY pair is showing strong bullish momentum, driven by both technical and fundamental factors. Here's the breakdown of the setup:

Trend: The pair has maintained a consistent uptrend, recently hitting a high of 156.748 before retracing slightly.

Key Support: The current support level is holding at 154.312, aligning with the 50-day moving average.

Resistance: Next major resistance is at 156.748, the recent high.

Indicators: RSI is at 66.033, suggesting the pair has room to move higher before reaching overbought territory.

Fundamentals: The Bank of Japan’s dovish policies and robust U.S. economic data continue to support USD strength against the yen.

Trade Plan:

Entry: 154.312 (current market price).
Stop-Loss: 153.862 (just below the support level to minimize risk).
Take-Profit: 156.748 (targeting the recent high)