USDJPY moves to new 2024 high and trades at highest level since November 16

The USDJPY has broken above its 2024 high at 150.885 and advanced to a high of 150.954. That’s the highest level since November 16.

For buyers looking for more upside, it would now take a move below 150.718 (low of swing area on the chart above) to start to hurt the bullish bias. Absent that, and the buyers are more in control.

THe high price from 2023 reached 151.909. The high from 2022 reached 151.945 (within 4 pips of each other). Those levels are the next key targets on more momentum going forward.

This article was written by Greg Michalowski at www.forexlive.com.