Anna 
During Asian trading hours on Thursday, the USD/JPY pair continued its upward momentum, marking the fourth consecutive session of gains and hovering around 155.80. The pair is currently consolidating within an ascending channel, with key technical indicators signaling a bullish bias.
The 14-day Relative Strength Index (RSI) remains positioned above the 50-level, indicating a strong bullish sentiment. Moreover, the Moving Average Convergence Divergence (MACD) line is currently above the centerline and is converging just below the signal line. A potential crossover where the MACD line moves above the signal line would confirm a buy signal, further supporting the bullish trend.
Looking ahead, the USD/JPY pair faces a psychological resistance level at 156.00. A successful break above this level could propel the pair towards testing the upper boundary of the ascending channel, situated around 159.70.
On the downside, the immediate support for the pair is seen at the 14-day Exponential Moving Average (EMA) at 154.89. This is followed by the lower boundary of the ascending channel, which aligns with the psychological support level of 154.00. A breach below these support levels may prompt a retest of May’s low at 151.86, recorded earlier in the month.
Traders and investors will closely monitor these technical levels and signals for potential trading opportunities in the USD/JPY pair amidst prevailing market conditions.
