163
The USD/JPY exchange rate is currently hovering near the lower boundary of a bullish channel evident on the chart. Analysts anticipate a potential upswing, poised to propel the price towards higher levels in upcoming sessions, with initial targets set at 159.65 followed by 160.45.
Market strategists maintain a bullish stance on an intraday basis, emphasizing the importance of sustained consolidation above the 158.40 mark to validate the positive outlook. A failure to secure above this level could prompt a bearish correction phase in the near term.
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Today’s anticipated trading range spans from support at 157.80 to resistance at 159.30, outlining key levels to watch for potential price movements.
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