USD/JPY Keeps Climbing: Bullish Bias Remains Intact

The USD/JPY exchange rate continued its upward trend last week, and there's no indication of it slowing down. According to ActionForex's analysis, the initial bias remains bullish for this week, with a target of 166.07 based on the 138.2% projection of 152.25 to 160.71 from 155.01.

From a larger perspective, the rise from 139.87 (2025 low) is seen as another rising leg in the long-term uptrend. The next target for USD/JPY is at 164.34, representing 61.8% projection of 139.87 to 159.44 from 152.25.

In the event of a pullback, ActionForex emphasizes that the outlook will remain bullish as long as 159.44 support holds. This suggests that even if USD/JPY experiences a significant decline, it's likely to rebound and continue its upward trajectory.

Looking at the long-term picture, the uptrend from 75.56 (2011 low) is still in progress, with a target of 176.55 representing 61.8% projection of 102.58 (2020 low) to 161.94 (2024 high) from 139.87.