USDJPY Chart Technical Outlook on H1 Time frame GDP data of JPY is in focus Next Session if data came positive we will see a good reversal in USDJPY along with GBPJPY.
From a technical perspective, the USD/JPY is upward biased after extending its gains above the Ichimoku Cloud (Kumo) and the Kijun and Tenkan-Sen levels. However, the 151.00 psychological figures could be challenging to surpass as Japanese authorities threatened to intervene in the Forex markets.
If traders clear the psychological 151.00 figure, that could open the door to challenge last year’s high at 151.91, followed by the 152.00 mark.
In another scenario, if sellers drag the exchange rate below 150.00, downside risks will emerge at the Tenkan-Sen at 148.55. Once cleared, up next would be the Senkou Span A at 148.05, before the 148.00 mark.
