USD/JPY Record Highest Price Since November 2022!

<p>&nbsp;Investors who maintain a buy position on the price chart of the USD/JPY currency pair are seen to continue increasing their profit figures as the price continues to move in a bullish trend until the close of trading last week.</p><p><br /></p><p>If observed, the price has managed to reach the target zone beyond 143.00 for the highest price record since November 2022.</p><p><br /></p><p>Although the movement of the US dollar currency has fluctuated a bit in the last few weeks, the king of the currency remains strong against the more passive Yen.</p><p><br /></p><p>While the Federal Reserve (Fed) signaled to raise interest rates again at the next meeting, the Bank of Japan (BOJ) on the other hand continued to maintain its loose monetary policy.</p><p><br /></p><p>If there is no change in the following current situation, investors will continue to expect a continued bullish trend on the USD/JPY chart.</p><p><br /></p><p>If the price movement is observed to remain above the support level of the Moving Average 50 (MA50) in the 1-hour time frame on the chart, it becomes a basic indicator for upward movement for the price.</p><p><br /></p><p><br /></p><p>A higher rise will be expected to head towards 145.00 before continuing its ascent to reach 146.00 to continue hunting for the latest record high.</p><p><br /></p><p>It's a different story if the price starts signaling to change direction and make a downward move again.</p><p><br /></p><p>A drop below the MA50 support level will be an early indicator before the price tests the RBS (resistance becomes support) zone around 142.00.</p><p><br /></p><p>The continued decline is seen to be around 140.300 before reaching the previous support level around 139.300.</p>