USDJPY Analysis: Pullback and Support Levels
USDJPY has experienced a retracement from 151.81 to a low of 150.26, with the pair now testing the support of the ascending trend line on the 4-hour chart.
If the trend line support remains unbroken, the current pullback from 150.26 could be interpreted as a period of consolidation for the uptrend starting from 146.47. In this scenario, there is still potential for further upward movement towards the 170.00 area after the consolidation phase.
The key support level to monitor is at 150.26. If the price falls below this level, it could indicate the potential completion of the uptrend that initiated from 146.47, with the next target set at the 149.00 area.