The USD/JPY pair, after gaining momentum from the strong support level of the descending channel structure, has continued its uptrend and finally reached the critical 150.00 target zone. This area stands as a major resistance for the pair. If USD/JPY can re-enter the ascending channel and maintain a stable price action, the upward potential towards the 160.00 level could become active.
However, in the event of a pullback, the 140.00 zone emerges as the first key support level to be closely monitored. A break below this level could deepen the selling pressure. It is essential for investors to carefully track any potential profit-taking and price movements at the current resistance area.
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