USDJPY 24 May 2024 Looking at the current market situation on USDJPY on the weekly timeframe, it shows that the pair is above the Kumo Cloud with a fairly strong bullish trend after successfully reversing the trend a few weeks ago. The pair is currently at a price position of 157.076 and looks set to continue strengthening. The Stochastic indicator is also showing strength towards the 80 level, indicating that the bullish momentum is likely to continue. However, traders need to stay alert to potential overbought and momentum shifts that may occur, and ensure good risk management to anticipate market movements that are not in line with expectations.
