USD/JPY continues gradual rise 12/11/2024

The USD/JPY pair successfully reached the first bullish target from the previous analysis at 154.00, peaking slightly higher at 154.05.

Technical Analysis:

• Bullish Continuation: The outlook remains bullish, supported by positive signals from the simple moving averages and the pair’s stability above the key support level of 152.70. Additionally, the pair continues to move within a defined bullish price channel, as illustrated on the 4-hour chart.
• Key Levels: If the pair breaches 154.15, this is expected to pave the way for further gains, with targets set at 154.85 and then 155.30.
• Downside Risk: A drop below 152.70 could invalidate the bullish scenario, leading to a possible decline toward 152.00.

Warnings:

• High Risk: The current risk level is high, especially given the geopolitical tensions that could lead to increased market volatility. It’s important to proceed with caution and consider all scenarios.

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: 152.70	R1: 154.15
S2: 151.95	R2: 154.85
S3: 151.25	R3: 155.60