USD/JPY (U.S. dollar – Japanese yen) rallied strongly from mid-July through late August, but its bullish momentum has begun to fade over the past few sessions after prices failed to clear channel resistance at 147.35. Following this rejection, the pair has transitioned into what appears to be a consolidation phase, marked by reduced volatility and predominantly indecisive market movements.
Despite range-bound trading in recent days, USD/JPY remains firmly biased to the upside, evident from the consistent pattern of higher highs and higher lows this year.
