USD/JPY Stalls at Pennant Resistance Near 156.30, Breakout Pending

USD/JPY has encountered resistance near the 156.30 level, stalling at the upper boundary of a pennant pattern that has been consolidating recent price action. The pennant formation, a continuation pattern, suggests the pair is coiling for a potential breakout, though the direction remains uncertain until a decisive move occurs. The stall at resistance indicates sellers are defending the 156.30 zone, and the pair may need a fresh catalyst to break through convincingly. A sustained move above 156.30 could trigger a bullish breakout targeting higher levels, while rejection from this resistance risks a pullback toward the lower pennant boundary. The Bank of Japan's monetary policy outlook continues to influence JPY sentiment, with markets closely watching for any signals regarding potential rate adjustments. Traders should watch for volume confirmation on any breakout attempt, as false moves within pennant patterns are common. Near-term support sits at the lower pennant trendline, while a break above 156.30 would shift the technical bias firmly bullish.