USDJPY : Trend is bullish above 129.60

As we can see from the chart above, the previously shared analysis hasn't changed (see chart below). From a technical point of view, we have considered the idea of a potential bullish swing developed with at least 3 legs, such as ABC for example )without excluding an impulsive structure 12345 with Target above the previous Top).
Now, instead of following the pair on the weekly chart as we did previously, let's try to show the first 2 potential Target Areas:
- 140.00 (Target 1)
- 143.00 (Target 2)

Having said that, the support still remains at 129.67 and as long as Price Action remains above, trend on daily chart is bullish. Having said that, the support still remains at 129.67 and as long as Price Action remains above, trend on daily chart is bullish. At the same time, we can follow the pair on intraday chart too, looking for closer supports that could anticipate the potential Bullish Pattern failure.

ANALYSIS ON WEEKLY CHART:
(Click & Play on Chart below)

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new updates

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new update:

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Approach to important resistance area on Daily Chart:

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...still bullish.
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Last weekly session for the USDJPY pair, from a technical point of view, trend remains bullish and our Targets have not yet been reached. That said, the best thing to do during today's session, is to go looking for supports on intraday chart. Would this work be of interest to you? Let me know with a Like from you.
In conclusion, the dollar's strength may continue next week, so it will be very important to follow the Price Action in the weekly close.

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It's still in play.

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🔔 Corrective structure is still in play...

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📢 The pair should be able to reach the resistance area with no pullback.

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Trade closed: target reached:

Intraday Structure completed.

Trade closed: target reached:

Start of Target area on daily chart.

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The trend is still bullish on daily and intraday charts, but the FOMC minutes are expected later... caution!! The pair could fly both ways…

Trade closed: target reached:

140 - Target 1

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Tomorrow, the FOMC announcement will have a big impact on this pair, and it could go either way, so being cautious could be a wise and correct choice.
Daily Chart:

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🔴 resistance area:

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Trade closed: target reached:

🔴Target 2 Area:

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Trending: Japan's Central Bank Maintains Easy Policy
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The Bank of Japan is one of the most mentioned entities in the news over the past six hours, according to Factiva data, after the central bank left its interest-rate targets unchanged. The BOJ kept its hard cap on the 10-year Japanese government bond yield at 1% and maintained short-term interest rates at minus 0.1%. The yen weakened against the U.S. dollar after the decision. The dollar was at 148.26 yen recently, up from Y147.74 before the announcement. At an afternoon press conference, BOJ Gov. Kazuo Ueda said he isn't sure when Japan can achieve sustainable 2% inflation and promised to continue monetary easing. IG market strategist Yeap Jun Rong, in an email, said: "The weakness in the Japanese yen has reflected that dovish takeaway in today's session."

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🔴 The Bank of Japan is expected to keep its main monetary policy settings steady Tuesday, with attention focused on how Governor Kazuo Ueda assesses progress made toward achieving the sustainable inflation needed for ending the negative interest rate. All 51 BOJ watchers in a Bloomberg poll expect the bank to keep its short-term policy rate at -0.1% and leave the parameters of the yield curve control program intact at the two-day board meeting. With growing signs of solid wage growth this year, Ueda’s remarks on the degree of “certainty” of achieving the bank’s price goal will be closely scrutinized at a post-decision press conference.

The meeting takes place after economists ruled out the chances for an end to the world’s last negative rate this month in the wake of a major earthquake on New Year’s Day and Ueda’s dovish remarks at the end of December. Also, with Prime Minister Fumio Kishida facing a deepening slush-fund scandal, economists say this doesn’t seem to be the best moment for Japan’s first rate hike since 2007.

🔴 Most economists agree, as 59% of BOJ watchers share that view. By that point, the central bank will have been able to study the initial results of highly anticipated spring wage talks. Moreover, a new Tankan business survey, fresh results of hearings by branch managers and several additional sets of CPI figures will give officials more data to reference in explaining any move.
BOJ officials have been encouraged by growing signs of wage gains after some big businesses pledged larger raises this year. While the officials still see uncertainties over pay trends at the small firms that employ the bulk of Japan’s company workers, they’re generally optimistic about the outlook for wages, people familiar with the matter said. That points to a chance of Ueda striking a brighter tone on the probability of attaining sustainable inflation. The chief has said in recent appearances that the certainty of hitting the 2% inflation goal has risen gradually. If that wording were to change even subtly it could trigger sharp moves in financial markets. With market players easing their expectations for a rate cut by the Federal Reserve this year, the yen has once again begun retreating after a short-lived rally that started in November. If the currency weakens too much, it would drive up import costs and exacerbate household budget concerns. Ueda probably will avoid sounding too dovish in order to help put a floor under the currency.