Bullish Trend Remains Until End of June, USD/JPY Highest Since November 2022

<p>&nbsp;There is no change in the previous movement pattern, the price chart of the USD/JPY currency pair continues to maintain a bullish trend until this week.</p><p><br /></p><p>Towards the end of the week, prices continued to reach their highest level recorded since November 2022.</p><p><br /></p><p>With support from several factors seen to favor the US dollar, the Yen will continue to be pressured apart from the central bank of Japan (BOJ) which maintains a loose policy.</p><p><br /></p><p>Speech by Federal Reserve (Fed) Chairman Jerome Powell last Wednesday at the economic forum gathering, he kept repeating the signal to raise interest rates several more times towards the end of 2023.</p><p><br /></p><p>Strengthening the action when the economic growth data of the United States (US) published is in line with the reading of increased figures for the first quarter of this year.</p><p><br /></p><p>Thus, it can be observed on the USD/JPY chart, the price continues to be driven higher until it reaches the 145.00 zone.</p><p><br /></p><p>Although a slight decline was shown in today's trade, the price remained above the Moving Average 50 (MA50) support level on the 1-hour time frame of the chart suggesting a bullish movement.</p><p><br /></p><p><br /></p><p>The higher rise that is expected to continue is seen to be heading towards around 146.00 to continue hunting for the latest record high.</p><p><br /></p><p>In fact, the higher level of 147.00 is also a target for further increases if there is no change in the two major currencies.</p><p><br /></p><p>However, analysts began to warn cautiously because the BOJ could at any time act to intervene in the market as it did before.</p><p><br /></p><p>The move will have an immediate strengthening effect on the Yen and push the price down significantly.</p><p><br /></p><p>A drop in price can be expected to reach around 143.500 first before extending to the RBS (resistance become support) zone at 142.00.</p>