USD/JPY Sharply Rising Towards 157,000 With Fibonacci Support
The USD/JPY chart is showing a strong uptrend. After correcting to the 0.5 and 0.618 Fibonacci support levels, the pair bounced, indicating significant buying interest. Now, a potential target could be around the 1.618 Fibonacci level, which corresponds to the 157,000 price zone. The EMA(34) and EMA(89) are still trending up, further strengthening the bullish momentum. I expect the price to continue moving up, unless there is a major correction that breaks the current support level.
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