The USD/JPY pair experienced mixed movements, ultimately invalidating the previous downward correction as it stabilized above the 153.70 resistance level.
Technical Outlook:
- Bullish Factors:
- Price is above the simple moving average, suggesting continued upward momentum.
- Bearish Signals:
- Stochastic indicator is in the overbought zone, indicating potential overextension.
- Key Scenarios:
- Bullish Breakout:
- A confirmed breach of 155.00 could push the pair higher towards 155.30 and 156.30.
- Bearish Breakdown:
- Falling below 152.80 may trigger strong downside pressure, targeting 151.50.
- Bullish Breakout:
Market Risks & Considerations:
- High-impact US economic data (Producer Price Index, Weekly Unemployment Claims) may drive significant price volatility.
- Trade tensions remain a major risk factor, increasing uncertainty.
⚠ Risk Warning: The market is highly volatile, and 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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