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The USD/JPY pair saw a significant rise, aligning with the expected positive outlook from the previous technical report. The pair surpassed the initial target of 145.20, reaching a high of 147.23.
Technically, and upon reviewing the 240-minute chart, we maintain a positive bias but with caution, driven by support from the simple moving averages and the confirmation of a breach of the downtrend resistance.
As long as intraday trading remains above 144.40, we expect further upward movement. Breaking through 147.23 could extend gains toward the next target at 148.20, with the possibility of later reaching 149.00.
On the downside, a confirmed hourly close below 144.40 would halt upward momentum, leading to negative pressure and potentially targeting 142.00.
Warning: The risk level is high and may not align with the expected return.
Alert: Today’s high-impact US economic data, including “Unemployment Benefits” and “ISM Services PMI,” could trigger significant price volatility.
Risk Warning: Ongoing geopolitical tensions raise the risk level, making various scenarios possible.
Disclaimer: Trading in CFDs carries inherent risks. The analysis provided herein is not a recommendation to buy or sell, but rather an interpretation of the current price movement on the chart.
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