USDJPY breaks above 100-hour MA – Can bulls push towards 150.00? ...Middle East

Key Technical Observations:

200-hour MA as Support: Buyers held firm near the 200-hour MA (148.72), confirming it as a key support zone.

Resistance Levels:

149.656: The high from Friday150.00: Natural resistance target150.11 - 150.28: Swing area and high for the week

149.18 (100-hour MA): Holding above this level keeps the bullish outlook intact.148.72 (200-hour MA): A break below this could shift sentiment bearish.148.56 to 148.72: Swing area and near the upward sloping channel trend line.

Outlook:

Bullish Case: Holding above 149.18 and a move toward 150.00+ could signal further buying pressure.Bearish Case: If price falls back below 149.18, sellers may regain control, targeting 148.72 and lower.

Traders should watch price action around these levels for confirmation of the next trend direction.

This article was written by Greg Michalowski at www.forexlive.com.

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