Title: USD/JPY Reverses Trend and Shows Signs of Short-Term Rise | Expert Analysis
USD/JPY has recently shifted its short-term trend, indicating a potential uptrend with higher highs and higher lows. This bullish bias suggests a positive outlook for the pair in the near future.
The 4-hour chart for USD/JPY reflects the change in trend, with the pair breaking higher after completing an abc correction. Despite expectations of a downtrend continuation, USD/JPY remained resilient and moved upwards on August 15.
The break above the wave c level confirms the bullish trend, with the 100-period Simple Moving Average acting as a resistance point. A close above this level could signal further gains towards targets at 150.90, 151.94, and potentially 155.22.
In summary, USD/JPY has shifted to a short-term bullish trend, presenting opportunities for potential gains in the coming days. Investors should keep an eye on key resistance levels for confirmation of further upside movement.