On November 22, USDJPY is consolidating within a symmetrical triangle pattern, trading around the 154.397 level. EMA 34 (154.608) and EMA 89 (154.765) act as short-term and medium-term resistances.
The MACD is gradually turning bullish, signaling potential buying momentum in the short term. If the price breaks above the triangle's upper edge and surpasses 154.765, USDJPY could rise to 155.500. Conversely, if the price breaks below the lower edge and drops under 154.000, the next target would be 153.500.
The market is influenced by the Fed's decision to maintain interest rates and the BoJ's dovish stance, which continue to support the USD over the Japanese Yen. Traders should closely monitor the breakout to determine appropriate trading strategies.