USDJPY Retest Completion and Bounce Back

The USDJPY pair is currently trading at a price of 156.000, with a target price set at 162. This suggests a potential gain of over 500 pips, indicating a significant upward movement. The market analysis highlights that the pair has recently completed its retesting phase at a critical support level. This retest confirms the strength of the support, as the price has now started to bounce back from this zone. The pattern identified is based on support and resistance, a common and reliable technical strategy in forex trading. A bounce from support often signals a bullish trend, making this an opportune time for buyers. Traders may view this as a favorable entry point, with the potential for strong gains. However, proper risk management and market monitoring are crucial. The setup aligns with technical indicators supporting the bounce scenario. The movement suggests the pair is regaining bullish momentum.