USD/JPY Bulls Target Higher as Pair Shows Strong Momentum

USD/JPY has maintained its bullish trajectory, trading near 150.25 with a 0.4% gain (60 pips) in Monday's session. The pair continues to benefit from diverging monetary policies, with the Federal Reserve maintaining its hawkish stance while the Bank of Japan remains accommodative despite recent policy adjustments. US Treasury yields holding above 4.5% on the 10-year note provide additional support for the dollar against the yen. Technical indicators suggest strong upward momentum, with the pair breaking above the 150.00 psychological resistance level. The next target for bulls appears to be 151.00, which coincides with the October 2023 highs. Support has formed at 149.50, aligned with the 20-day moving average. Traders should monitor upcoming US economic data releases and any shifts in BOJ communication that could impact the pair's bullish trend.