The USD/JPY exchange rate has halted its recent decline near the 155.00 threshold, subsequently rebounding with bullish momentum. The pair has now breached the 156.80 level and established itself above this point, signaling a potential recovery and a return to a primary upward trajectory. The next target for this bullish movement is anticipated to be the 158.80 level.
In light of the current conditions, a bullish outlook is favored for the near term, bolstered by positive indications from the Relative Strength Index (RSI). However, should the price fall below the 156.80 level and remain there, it could reignite the bearish correction scenario, with the next significant target falling to 153.65.
For today, the expected trading range is projected between a support level of 156.60 and a resistance level of 158.30.
