USD/JPY jumps 1% to 147.38 as bullish momentum accelerates

USD/JPY has surged nearly 1% to reach 147.38 at the start of Monday's trading session, marking a significant breakout above recent consolidation levels. The rapid appreciation reflects strong buying pressure as the pair overcomes the psychologically important 147.00 barrier, suggesting further upside potential. The move represents approximately 145 pips gained from Friday's close, indicating robust momentum that could attract trend-following traders. Technical analysis shows the pair breaking above its 50-day moving average, while the RSI approaches overbought territory at 68. Immediate resistance lies at 148.00, with the next major target at the 150.00 round number. Support has formed at the previous resistance of 147.00, now acting as a key level for bulls to defend. The strength of this move suggests positioning ahead of potential risk events, with traders advised to watch for any pullback opportunities near the 146.80-147.00 zone.