Reacting Trendline - respecting the upward trend towards 160.00USD/JPYOANDA:USDJPYFM-ForexMastermindNews: 👉The temporary extension of the ceasefire between the US and Iran has created some selling pressure on the US Dollar, putting downward pressure on USD/JPY. However, ongoing economic concerns linked to tensions in the Strait of Hormuz, along with expectations that the Bank of Japan may delay rate hikes, could continue to weaken the Japanese Yen and help limit downside for the pair. Technical Analysis: 👉 Price reacted at the trendline and bounced, showing respect for the bullish structure. The upward momentum is likely to continue today, targeting the 160.00 level. 👉 At the same time, EMA 34 crossing above EMA 89 and 200 further supports short-term bullish momentum. Resistance: 160.00 Support: 159.00 Wishing you a successful trading day!