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.