4-hr USD/JPY: Up Trend Continuation
USD/JPY is showing a solid uptrend, highlighted by strong bullish momentum confirmed by the appearance of a Golden Cross, where the 20 MA has crossed above the 60 MA. This is a strong technical indicator suggesting the continuation of upward movement. Recently, the pair experienced a significant correction of 240 pips, but found strong support at the 154.00 level, which coincides with the 50% Fibonacci retracement — a key level often watched by traders for potential reversals. Following this support test, the currency pair has resumed its bullish trajectory, underpinned by increasing trading volumes. The outlook now points towards a likely retest of the recent peak at 156.40, suggesting potential for further upside gains. Additionally, the 30-minute chart confirms this positive sentiment by displaying another Golden Cross pattern, reinforcing the buying signal. This combination of signals across different timeframes indicates that the trend remains firmly intact with strong momentum on the buyer’s side.
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