Could USD/JPY see a reversal soon?

The USD/JPY pair has shown a strong upward movement over the past four weeks, rising from 140 after reaching a low of 135. While this appears to be a corrective wave, it is anticipated that the pair could continue its ascent towards a potential peak in the range of 152.8 to 155. However, after reaching these levels, a gradual decline is expected, with a potential target of 126 within the next six months.

It is important to highlight the elevated risks associated with this outlook, particularly due to the upcoming U.S. elections. A potential victory by Donald Trump may lead to a bearish shift in the USD/JPY pair, as market sentiment could react negatively to his anticipated economic policies. Additionally, geopolitical tensions remain a significant factor, adding further volatility and increasing the likelihood of a reversal in the current trend.