The USDJPY is moving to a new session high and in the process is extending above a swing area between 150.718 and 150.774. The next target comes against the high price from 2024 which was reached on February 13 at 150.88 (see chart above).
Get above that level and traders will look toward the 2023 high price at 151.91. That high is near the high price from 2022 at 1.5194 (double top). Needless to say, the level is a key target for all traders going forward.
For now, buyers are in control.
This article was written by Greg Michalowski at www.forexlive.com. Source