USDJPY breaks above 100-hour MA, targeting 150.00

The USDJPY currency pair has shown strong upward momentum as the week comes to a close. It has risen above the 100-hour moving average (MA), suggesting potential for further gains. Earlier in the day, buyers found support near the 200-hour MA, which helped set a strong base for this upward movement. The recent breakout above the 100-hour MA, currently at 149.18, indicates that bullish traders are in control. The 200-hour MA at 148.72 has also proven to be a strong support level, as buyers have consistently held their ground there. The price is moving within an ascending channel, meaning it has set clear resistance and support levels. Key resistance levels to watch include 149.656, which is a recent high, and 150.00, a natural target. The area between 150.11 and 150.28 is also significant as it represents a swing high for the week. On the support side, the level at 149.18 is critical for maintaining a bullish outlook. If the price dips below this level, it could shift sentiment in favor of sellers, potentially targeting 148.72 and lower. Traders should closely monitor price movements around these key levels to see which direction the market will take next.