USD/JPY Technical Analysis (Daily + 4H)US Dollar / Japanese YenCAPITALCOM:USDJPYJunmadayagUSD/JPY Technical Analysis (Daily + 4H) Big picture (Daily chart): •Strong uptrend since 2024. Price is well above both MAs (50EMA orange above 200EMA red = bullish alignment). •Current price ~159.36. •Key daily S/R levels (green lines): •Resistance: 159.87 (just hit) •Support: 157.42 → 153.84 Short-term view (4H chart): •Price has pushed aggressively higher into the 159–160 zone. •Still riding above the orange 50EMA, which is above the red 200EMA. Bullish scenario (most likely right now): •Break & close above 159.36–160.00 → next target 162.50 (next major daily resistance). •50EMA stays above 200EMA + higher lows = continuation of uptrend. Bearish scenario: •Rejection at 159.87–160.00 → pullback to 157.42 (first support), then 153.84. •Only turns bearish if price loses 157.42 and 50EMA crosses below 200EMA. Simple takeaway: Trend is bullish. Watch 159.87–160.00 today/tomorrow. Break = more upside. Fail = healthy pullback to 157.42. No major reversal signals yet.