The buying in the USDJPY has pushed the price through targets at 146.204 and 61.8% retracement of the move down from the August 16 high at 145.639 (see the earlier video on the USDJPY – GO to 4:08 on the video for the start of the analysis of the USDJPY).
The price is approaching the high price from last Friday at 146.465.
Looking at the daily chart below, the high price from last week and a current high price today reached into a swing area between 145.88 and 146.594. Get above that area would open the door for further upside momentum with the high price from September at 147.19 as the next target. The 38.2% retracement of the move down from the July 2024 high comes in at 148.116 and would be another upside target on further momentum.
This article was written by Greg Michalowski at www.forexlive.com. Source