USDJPY – larger bulls to remain in play above broken Fibo barrier

USDJPY remains constructive above psychological 150 level which reverted to support and managed to contain pullback from new three-month high (150.88).

Rising 10DMA is nearing this level and reinforcing support, keeping focus at the upside for retest of 150.88 peak and possible acceleration higher on clear break.

Broader bulls are expected to remain intact while the price action stays above broken Fibo barrier at 149.15 (76.4% of 151.90/140.25 downtrend).

Overall bullish outlook is reinforced by strong positive momentum and moving averages in bullish configuration on daily chart.

Wednesday’s release of FOMC minutes will be closely watched for fresh signals.

Res: 150.64; 150.88; 151.43; 151.90
Sup: 150.00; 149.40; 149.15; 148.73