USDJPY Consolidates Near 78.6% Fibonacci ResistanceU.S. Dollar / Japanese YenFOREXCOM:USDJPYFOREXcomUSDJPY has entered a consolidation phase just below the 0.786 Fibonacci retracement level around 154.78, following a strong recovery from mid-year lows. The pair remains above both the 50-day (blue) and 200-day (red) simple moving averages, indicating that the broader structure continues to favor the upside despite recent pauses in momentum. A series of higher lows since April forms a clear ascending trendline, underscoring the sustained bullish bias. The MACD lines are flattening near the zero level, signaling waning momentum but no confirmed bearish shift. Meanwhile, the RSI holds around 61, reflecting moderate bullish strength without reaching overbought territory. For now, USDJPY trades within a tight range between 151.60 (0.618 Fib support) and 154.80 (resistance). A decisive break beyond this upper boundary would reaffirm bullish continuation, while a move below 151.60 could open the door for a deeper pullback toward the 50% retracement near 149.35. -MW