The chart of the USD/JPY currency pair was also no exception displaying interesting movements last week with the market reacting to important published data.
On Tuesday last week, the price managed to reach its latest high since November 2022 when the increase passed the level of 147.00, but after that the price started showing a downward pattern again.
A drastic move was displayed on Friday due to the market's reaction to the United States (US) NFP employment data report published in the last session of the week.
Initially, the price was seen plunging to the level of 144.500 before the weakened US dollar again showed a stronger strengthening, seeing the price soar back above the level of 146.00.
Also breaking the Moving Average 50 (MA50) barrier on the 1-hour time frame on the USD/JPY chart for a bullish signal, the price reached a high of around 146,300 at the end of the last session.
The price movement was seen to be flat at 146,300 when resuming trading at the beginning of the market opening this week.
The price increase is expected to continue to head back to the key at 147.00 which was tested last week.
If this week's rise is successfully broken, the price will record a new high with a target of 150.00.
However, if the price plunges again below the 146.00 level, the 144.500 zone that was reached last week will be tested again this week.
A lower drop with a clearer bearish price signal can be expected to reach around 143.500.
