USD/JPY Price Analysis: Technical outlook

From a technical perspective, the USD/JPY resumed its uptrend, clearing the Tenkan-sen at 150.02, with buyers eyeing further gains past that level. The next cycle high would be the February 28 high at 150.85, before reaching 151.00. Upside risks emerge once surpassed, with the next supply zone seen at last year’s high of 151.91.

Conversely, if sellers achieve a daily close below 150.00, the next support emerges at the confluence of the February 29 low and Senkou span A at 149.21 before challenging 149.00. The Kijun-sen lies beneath that area, at 148.39