USD/JPY extends the uptrend above the mid-151.00 level

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Dear friends, Currently, the USD/JPY pair continues to trade with a good price increase, within an upward trend channel. At the time of writing this article, the price is trading at 151.68. The price increase of this currency pair is supported by higher interest rates on US Treasury bonds and hawkish comments from Federal Reserve Chairman Jerome Powell. The pair is currently trading around 151.70, up 0.10% for the day.

From the 1-hour chart, the upward trend remains stable, indicating a high probability of further price increase for USD/JPY, with an expected increase to 152.40. Additionally, the trend on the 1-hour time frame is also stable. What are your thoughts on this matter?

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