Market Analysis – November 12
USDJPY maintains upward momentum supported by strong technical indicators. The USDJPY pair continues to exhibit a robust bullish structure, maintaining steady gains above key moving averages. The ascending price action aligns with broader market sentiment favoring the dollar, while the RSI hovers near the upper neutral zone, signaling sustained buying interest without immediate signs of exhaustion. Momentum remains supportive of further appreciation, with buyers consistently defending short-term retracements to sustain the overall trend.
USDJPY Key Levels
Supply Levels: 154.800, 158.880
Demand Levels: 146.600, 139.880
USDJPY Long-Term Trend: Bullish
Technically, the pair has respected the ascending trendline that originated from the May lows, reinforcing its medium-term bullish channel. Recent price activity shows a clean breakout and retest above the 153.930 level, transforming previous resistance into support. The presence of a bullish order block around 153.000 provided an additional liquidity base, fueling renewed upward traction. Candlestick structures reflect consistent higher lows, emphasizing the market’s underlying strength and firm buyer control.
Going forward, the market outlook favors a continued northward expansion toward the upper resistance zone at 156.000, with potential extension to 158.870 if bullish momentum persists. A sustained close above the current consolidation range would confirm trend continuation, while any temporary pullbacks toward 153.930 may offer fresh buying opportunities. Overall, sentiment and structure remain decisively bullish in the near to medium term.
USDJPY Short-Term Trend: Bullish
USDJPY continues to trade with bullish momentum, supported by higher lows and sustained buying pressure above the 154.000 level. The pair has reclaimed structure after a successful retest of the bullish order block around 153.000, confirming renewed demand.
RSI remains above the 60 mark, reinforcing the strength of bullish momentum. A decisive breakout above 154.800 could open the path toward the next resistance near 156.000.
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