USD/JPY Weekly Technical Outlook: Bullish Breakout Continues – Key Support Zones and Resistance Targets for Extended Uptrend (Comprehensive Analysis by ActionForex.com) Overview The USD/JPY currency pair has maintained its strong upward momentum through the past week, confirming a resilient bullish trend fueled by the US dollar’s strength amidst rising Treasury yields and Japan’s ongoing monetary easing stance by the Bank of Japan. After experiencing a minor correction, the pair quickly regained its upward trajectory, closing the week well above critical support levels and signaling potential for further gains in the near term. This pair is firmly embedded within a broad uptrend on
USD/JPY Weekly Technical Outlook: The pair upheld its bullish momentum last week, propelled by robust US Treasury yields and the Bank of Japan’s ongoing loose monetary policy. After testing support around 148.80, USD/JPY bounced strongly, closing well above key levels and maintaining an uptrend established since January 2023’s 127.20 low. Weekly RSI and MACD indicators remain favorable, with price trading above the 20- and 50-week EMAs, signaling continuation potential.
On the daily chart, USD/JPY respects a rising channel with crucial support at 148.80. Immediate resistance lies at 151.90—an important multi-year barrier—followed by 152.50 and 153.50, historic levels not breached since 1990. The 200-day EMA slopes upward, reinforcing longer-term bullishness. Should a corrective phase emerge, supports at 147.20, 145.85, and 143.35 could come into play. Overall, the trend structure of higher highs and lows points toward sustained upside momentum unless disrupted by major fundamental shifts. Traders should watch for a clear break above 151.90 to confirm a further rally toward mid-150s levels. #USDJPY #ForexAnalysis