The US Dollar remained in a bullish zone and started a fresh increase above the 140.00 resistance against the Japanese Yen. The USD/JPY pair traded above the 142.00 level to extend gains.
The pair traded to a new multi-year high above the 143.50 level and is still well below the 50 hourly simple moving average. It is now consolidating near the 144.00 level, with an immediate resistance at 144.20 on FXOpen.
The first major resistance is near the 145.50 zone. A clear break above the 144.50 resistance could push the price towards 145.00. The next major resistance is near the 145.80 level.
On the downside, an initial support is near the 143.20 zone. The next major support sits near the 142.20 level and a connecting bullish trend line on the hourly chart, below which there is a risk of more downsides towards the 141.50 level.
