Noor Trends News, Technical Analysis, Educational Tools and Recommendations
The USD/JPY pair showed a notable rally in line with the positive outlook highlighted in the previous technical report, achieving the official target of 154.00.
From a technical standpoint today, a cautious bullish bias prevails, supported by the continuation of the bullish technical pattern visible on the 4-hour chart and reinforced by positive momentum from the simple moving averages.
As such, with trading stability above 152.70, the bullish trend remains the most likely scenario, targeting 154.00. A breach of this level could further strengthen the upward momentum, paving the way towards 154.30, with potential gains extending to 154.90.
Conversely, if the price stabilizes below 152.70, this would invalidate the bullish outlook, with the pair likely retesting 151.85 before attempting another rise.
Warning: The risk level remains high and may not align with the expected return.
Warning: Amid ongoing geopolitical tensions, all scenarios 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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