The USD/JPY chart shows a critical technical scenario as the price hovers around $148.536, close to the strong resistance level at $149.563. This is the threshold buyers must overcome to maintain the upward momentum.
However, if this resistance is not broken, USD/JPY may face a pullback towards key support levels, with the first support at $144.984 and a stronger one at $142.114.
The EMA 34 and 89 lines are supporting the short-term uptrend but may also pose significant resistance if a downward trend emerges.
The RSI is currently at 63.27, indicating the market still has room to rise but also warns of a potential short-term correction. Investors should keep an eye on U.S. economic data and geopolitical developments, which could influence price volatility in the coming days.