USD/JPY targets a move toward the 162.00 level.

USD/JPY remains confined within a well-defined ascending channel on the higher timeframe, preserving a strong bullish structure. The pair continues to post higher highs and higher lows, indicating that buyers are still firmly in control.

Attention now shifts to the 162.00 level, a key resistance zone that has previously limited upward moves. As price approaches this area once again, the setup points toward a possible breakout.

On the lower timeframe, price action is forming a tight triangle pattern, reflecting short-term consolidation and indecision. Such formations often precede a surge in volatility.

Given the prevailing uptrend, the bias favors an upside break. A decisive move above the triangle resistance could spark fresh momentum, paving the way toward the 162.00 barrier.

Key takeaway:

USD/JPY is consolidating within a triangle while maintaining a broader uptrend. A breakout to the upside would likely target 162.00, while in the meantime, price may remain compressed—but not indefinitely.