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Technical Analysis: Bullish Outlook for USD/JPY Still Continues

U.S. Dollar / Japanese Yen (OANDA:USDJPY)  
Stephen_Anders  
OANDA:USDJPY   U.S. Dollar / Japanese Yen
Trend Analysis Chart Patterns Technical Indicators USDJPY sma resistence support chartanalysis trend upward Forex
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trendanalysis chartpattern indicator usdjpy sma resistence support chartanalysis trend upward forex
USD/JPY is currently at multi-decade highs, closing at 155.00. Traders are exercising caution due to increased risks stemming from Japan's forex intervention. The recovery of the US dollar (USD) is bolstering the upward momentum of USD/JPY.

From a technical standpoint, the pair is trading above the Simple Moving Averages (SMA), indicating a stable uptrend. However, there are signs of a corrective move, with prices expected to test the 0.5-0.618 Fibonacci retracement levels before resuming a strong upward trajectory

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