USDJPY advanced during recent intraday trading, challenging the key resistance level at 161.50. The pair benefited from easing overbought conditions on relative strength indicators, which have begun to generate fresh positive signals, providing room for further gains in the near term.
This comes amid a dominant short-term bullish trend, with trading alongside ascending trend line that supports this path. Additional positive momentum is being provided by trading above the EMA50, which continues to act as dynamic support and reinforces the bullish outlook.
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