• USD/JPY is traded higher on Tuesday as dollar remained bid on expectations the Federal Reserve will temper its rate cut path.
•The upcoming U.S. presidential elections also continue to support dollar, as market expectations grow for a Donald Trump victory.
• At GMT 16:10, the pair was up 0.09% to 150.96 after climbing to 151.10, its highest since July 31.
• Technical signals are strongly bullish as RSI is at 64, daily momentum studies 5, 9 and 10 DMAs are trending up.
• Immediate resistance is located at 151.52(23.6%fib), any close above will push the pair towards 152.00 (Psychological level).
• Support is seen at 150.23 (5DMA) and break below could take the pair towards 149.14 (38.2%fib).
Recommendation: Good to buy around 151.00, with stop loss of 150.50 and target price of 151.50
