USDJPY Targets 156.75 After Technical Momentum

The USDJPY pair targets 156.75-156.90 after reaching its 155.00 goal, aligning with both the triangle's height and a Fibonacci extension level. This move comes ahead of Friday's Bank of Japan interest rate decision at 3:00 GMT. From a technical perspective, with no divergence or reversal signals observed in the RSI, US growth data, along with Japanese releases, will be pivotal. On the downside, the initial support level stands at 155. Momentum above this level suggests 154.65 as the secondary support. Should selling pressure intensify, the focus might shift to the channel's midpoint, ranging between 153.80 and 154.00.