USD/JPY may repeat bullish opportunities 15/10/2024

The USD/JPY pair surged during the previous trading session, surpassing the official target from the prior technical report at 149.50 and reaching a high near the psychological barrier of 150.00.

Today, we maintain a cautiously positive outlook. The simple moving averages provide a positive incentive, while the Stochastic indicator suggests attempts to gain additional upward momentum. With intraday trading holding above 148.90, this supports the continuation of a bullish trend. The immediate target is 149.85, and breaching this level could further enhance the upward move towards 150.40.

However, if the pair closes an hourly candle below 148.90, the upward momentum will pause, triggering potential negative pressure, with the pair likely to head towards 148.45, and possibly 148.00, before any further recovery attempts.

Warning: The risk level is high and may not match the expected return, especially amidst ongoing geopolitical tensions, where all scenarios are 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.

S1: 148.90	R1: 149.85
S2: 148.45	R2: 150.40
S3: 147.90	R3: 150.85