USD/JPY Eyes Fresh Sprint as Pullback Presents New Opportunities

During the early North American session, the USD/JPY currency pair witnessed a surge, reaching a new high for the day around the 139.45 region. However, as it climbed to higher levels, it encountered a fresh wave of selling pressure. Consequently, spot prices swiftly retreated towards the lower end of the daily range, currently trading just above the 139.00 mark. This retreat followed the release of the monthly jobs data from the United States, which presented a mixed picture.

USD/JPY pair remains within a bullish trend. and is notably a retracement in the vicinity of the 138.500 area has served as a fresh impetus for the pair's upward movement. Traders are now eyeing the D Leg extension of the ABCD pattern, which is projected to occur around the 141.500 level. This target represents the next significant milestone for the pair's upward trajectory, and investors are closely monitoring developments to assess the likelihood of reaching this level.