USD/JPY surges past multi-month trendline – Société Générale

💡 DMK Insight

USD/JPY’s breakout above the descending trendline is a game changer for traders looking for momentum. With the pair currently at 149, the potential upside toward 155.40–156.50 could attract both retail and institutional buyers. This breakout comes after a period of consolidation, which often sets the stage for significant price movements. Traders should keep an eye on the 150 level as a psychological barrier; a solid close above this could confirm the bullish sentiment. However, it’s worth noting that if the pair fails to maintain momentum, we could see a retracement back to the trendline, which would invalidate the bullish outlook. Monitoring the RSI and MACD indicators can provide additional insights into whether this move has legs. If you’re trading this pair, consider setting alerts around 150 and 155.40 to catch any shifts in momentum.