Market Analysis – October 22
USDJPY shows renewed bullish structure and upside momentum. The market maintains a bullish trajectory as price sustains above the 9-day moving average at $151.30, supported by momentum confirmation from the MACD histogram, which has turned slightly positive.
The recent rebound from the $150.90 region underscores renewed buying pressure, aligning with a broader strengthening of the dollar. This overall setup reinforces investor confidence, suggesting the market retains a pro-dollar bias amid technical consistency in upward momentum.
USDJPY Key Levels
Supply Levels: 154.800, 158.880
Demand Levels: 146.600, 139.880
USDJPY Long-Term Trend: Bullish
Technically, price recently retraced toward the 0.618 Fibonacci level near $149.10 before finding solid support above $150.90, confirming a short-term higher low structure. The green arrow region represents a rebound point where the bullish impulse regained traction, leading to consolidation above the mid-Fibonacci zone. With successive candles holding above the key $151.00 handle, the market shows stable liquidity and a developing base for a continuation move.
Looking ahead, a decisive close above the $153.30 resistance could open the pathway toward the next major resistance zone at $154.80, with extended targets projected around $158.90 if momentum persists. Conversely, should the pair retrace, $150.90 remains the immediate demand level to maintain the bullish bias. Overall, market sentiment and structure point toward further upside continuation in the coming sessions.
USDJPY Short-Term Trend: Bullish
USDJPY maintains a bullish bias on the four-hour chart as price stays above the 9-period SMA and the key demand zone at $150.90. The recent bounce from the order block region confirms strong buyer presence and a continuation of upward momentum.
MACD histogram supports this sentiment, showing increasing bullish strength as the signal line trends upward. Price is likely to extend toward $154.80 if buyers sustain control above the $151.60 support level.
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