USDJPY buys from the level of 149.50. This level needs to be tested in order to get the longs on board. This is also an order block which will be tested by the market makets to continue the trend uppwards towards the trend of higher highs and higher lows. 

The ascending trendline will be retested at the support level to form a confluence of a bullish move.

The retracement level of 75% is in confluence with the support level. 

EMA 50 is still bullish and the market can continue moving up.

RSI is at 84. It needs to retest at the 50 level in order to align with the technical factors.

USDJPY buys 149.50

Feb 13 2024