Bullish Outlook for USD/JPY
Looking at the current USD/JPY chart, I predict that the pair has upside potential. USD/JPY recently broke out of an ascending triangle pattern, marking the start of a new uptrend. The next resistance I predict is at the 0.618 Fibonacci level, which is around 148.00.
The recent rise could be supported by positive economic reports from the US or a weakening of the Yen due to Japan's monetary policies. If the uptrend continues, my next target is 149.59, based on the extended Fibonacci technical analysis.
The recent rise could be supported by positive economic reports from the US or a weakening of the Yen due to Japan's monetary policies. If the uptrend continues, my next target is 149.59, based on the extended Fibonacci technical analysis.
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