USD/JPY Update: Navigating Sideways Movement and Key Levels

 The USD/JPY currency pair has been trading sideways within a range of 145.42 to 148.22 for the past few days.

As long as the support level at 145.42 holds strong, this sideways movement can be seen as a consolidation phase for the uptrend that started from 141.68. If the price breaks above the resistance level at 148.22, we could see further upward movement, potentially reaching the next resistance around 150.00, and possibly even the 151.85 area.

On the downside, if the price falls below the 145.42 support, it may decline to the next support level at around 144.00. A breakdown past this level could target the previous low of 141.68.

Traders should keep an eye on these key levels as they could greatly influence the direction of USD/JPY in the near future.

by ForexInflux