On the weekly timeframe, USDJPY experienced a significant decline last June, dropping from a price position of 160.803 to reach 146.572 at the end of the month. Currently, the pair is in a bullish trend after experiencing a trend reversal when it touched the R1 level in the previous session. However, the stochastic indicator shows that the pair is still in a saturated zone due to oversold conditions. This indicates that the bullish trend may continue, with the potential for further strengthening if the positive momentum is maintained.