Noor Trends News, Technical Analysis, Educational Tools and Recommendations
The USD/JPY pair maintained a strong upward trend, as anticipated, reaching our target at 154.85 and peaking at 154.95.
From a technical perspective, we anticipate a continuation of this bullish trend today. The pair continues to receive positive support from the simple moving averages, and trading remains above the 153.60 support level. Additionally, the pair’s movements are well-contained within the ascending price channel, as observed on the 4-hour chart.
Therefore, we expect the upward momentum to persist in today’s session. A break above 155.00 would pave the way for a move towards 155.40, with potential gains extending further to 156.00.
However, a drop below 153.60 would delay, but not invalidate, our bullish scenario. In this case, the pair may retest 152.90 before attempting to rebound.
Caution: High-impact economic data from the US, including the “Consumer Price Index – Annual and Monthly,” is scheduled for release today. This could result in significant price volatility.
Risk Alert: The risk level remains high due to ongoing geopolitical tensions, and various outcomes remain 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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