USD/JPY Breaks Out – Bulls Eye 149.35 Fibonacci Target

USD/JPY surged nearly 2%, breaking above both its 50-day SMA and short-term downtrend line, signaling a potential trend reversal:

📈 Strong bullish candle, clearing the 146.50–147.50 zone
📊 RSI climbing through 60, showing accelerating bullish momentum
📉 MACD crossing the zero line, reinforcing the bullish signal
🔺 Next upside targets:

149.35 = 50% Fib retracement of the Dec–April decline

151.60 = 61.8% Fib and near 200-day SMA

Staying above 146.30 keeps the bias bullish. A close above 149.35 would open the door for a potential run toward 154.80.

-MW