USDJPY: The Uptrend Still Has Fuel

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USDJPY: The Uptrend Still Has FuelU.S. DOLLAR / JAPANESE YENFX_IDC:USDJPYParadise_NoirUSDJPY remains biased to the upside, even as the market heads into a sensitive week for both the Fed and the BoJ. U.S. yields have eased toward 4.97%, while the BoJ is expected to keep rates at 1.25% but signal a potentially firmer stance for December. Even so, USDJPY is still holding around the 157 area rather than breaking sharply lower, suggesting that JPY strength has not yet been enough to disrupt the broader bullish structure. From a fundamental perspective, both the Fed and the BoJ are still expected to keep rates unchanged this week, while the December outlook remains less certain. If U.S. inflation stays sticky or Treasury yields rebound, the dollar could quickly regain support. On the Japanese side, expectations for a BoJ hike to 1.50% in December are already elevated, and any sign of internal resistance to further tightening could limit JPY strength. On the 12H chart, price remains above the ascending price channel, and the bullish structure is still intact. I am watching the area around 155.30 as a potential reaction zone if the market sees a deeper pullback. If price approaches that area and holds the structure, it could provide a stronger base for renewed upside momentum. Above, the 157.40–157.55 region remains the nearest obstacle, and a clear break would open the way toward 160.40. My preferred scenario remains fully focused on BUY opportunities. I want to see price either hold the current structure or pull back toward the channel and regain momentum quickly. As long as the ascending channel remains intact, corrective moves are still viewed as opportunities to look for BUY setups with the prevailing trend, with 160.40 as my main target.