USD/JPY Technical Analysis: Resistance at 147.80, Target Support at 145.90 Amid Uncertainty
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USD/JPY:
After testing the target support at 145.90, the USD/JPY pair has been rising for two days. The price may reach the price channel line at 147.80, but it's unlikely to break above it and reach the target level of 148.50. The lack of divergence is still a hindrance to the pair's growth, and there's a good chance that the US dollar will strengthen after tonight's US inflation report.
Given these conditions, the price could test the support at 145.90, supported by the MACD indicator line, and only then will it be able to continue rising if the yen considers this plan. However, if the price settles below 145.90, it will continue to fall towards 144.73.
