The USD/JPY pair is on a roll, with buyers firmly in control and pushing the currency higher. This surge is a continuation of a bullish trend, with key resistance levels being broken.
A Bullish Outlook
The USD/JPY pair has soared past the 155.00 and 156.00 marks, and a bullish trend line is forming, indicating a potential upward trajectory. The 4-hour chart shows the pair settling above significant moving averages, with further gains possible.
Resistance levels are now at 158.00 and 160.00, and a close above 158.40 could propel the pair towards 159.20. On the other hand, support levels are at 156.70 and 156.20, with a trend line providing additional support at 156.60.
But here's where it gets interesting...
A close below 155.70 could trigger a pullback, potentially testing the 154.50 level and the 100 simple moving average. This scenario highlights the delicate balance between resistance and support levels, and any shift could impact the pair's direction.
EUR/USD and GBP/USD: A Different Story
In contrast, the EUR/USD pair is experiencing a decline, which could lead to a revisit of the 1.1450 level. Similarly, GBP/USD is struggling to recover above 1.3150 and 1.3200, indicating potential further declines.
Upcoming Economic Events to Watch
The US S&P Global Manufacturing and Services PMI for November 2025, along with the Michigan Consumer Sentiment Index, are key indicators to keep an eye on. These economic events could influence the USD's performance and, consequently, the USD/JPY pair's movement.
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So, will the USD/JPY pair continue its upward trend? And what impact will upcoming economic events have? Share your thoughts and predictions in the comments below!
