USDJPY with an uptrend, conditions towards the peak of the era

The Bank of Japan said last Friday that it would begin reducing its bond purchases, but the reduction remains limited. So, from a fundamental perspective, this is not stimulating the Japanese yen at all. Show transactions USDJPY is still watching for signs of how the Japanese government will intervene to support the yen to continue its appreciation. Meanwhile, the USD will still be strong because the market is pricing the Fed will only cut interest rates once this year, and Fed officials are sending hawkish messages about "high interest rates for a while". longer".


Technically, the bullish structure of USDJPY there are no changes compared to previous publications sent to you. Temporarily, USD/JPY is limited by the technical level of 158.011 and once USD/JPY maintains above this level, it will provide conditions for USD/JPY to continue to increase towards its all-time peak.
Regarding the overall picture, USD/JPY still has the main trend of increasing prices with the price channel (a) being noticed as the main trend and the EMA21 moving average as short-term support. As long as USD/JPY is still trading with the above support levels, the bullish trend should not change and each pullback should only be considered a technical correction.

USD/JPY's uptrend will be noticed again by the following technical levels.
Support: 157,224 – 156,657
Resistance: 158.011 – 160.236