USDJPY Remains Bullish as Long as 156.80 Support Holds
The US dollar (USD) maintains a bullish bias against the Japanese yen (JPY), as long as it does not breach the critical support level at 156.80. Analysts suggest that while we may anticipate upward movements, the speed of this advance remains in question. Currently, the USD appears to lack momentum needed to break the significant resistance level at 159.00. For traders, this situation presents a need for caution as market dynamics shift. The outlook for USDJPY requires careful observation of potential support and resistance levels that are developing within this market framework.