Under normal conditions, USDJPY would be looking to accelerate the upside.
However, threat of BoJ intervention makes this a not normal market and at a minimum, slkows e pace..
So, let’s look at this from a pure chart perspective as that is what the BoJ isa looking ay as well.
Trend: Strong up
Target: Guesswork with USDJPY trading at 40-year high so use the most recent high as key resistance (163.24.
To break current momentum, trendline plus 162.43 and 162.12 would need to be broken (along wit 162).
(AT 4 hour chart)
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