Noor Trends News, Technical Analysis, Educational Tools and Recommendations
The USD/JPY pair is currently experiencing mixed movements, with a rebound from the 157.00 support level and hovering around 158.60.
Technical Outlook:
Despite the mixed signals, the technical outlook leans towards positivity. The pair is holding above the 158.20 and the critical 158.00 support levels. Additionally, the Momentum indicator is showing signs of positive momentum.
Upward Potential:
In the coming hours, we may witness a rise in the pair, targeting 159.20 and 159.70, respectively. A break above these levels could further strengthen the upward movement.
Downside Risks:
However, traders should exercise caution as a drop below 158.00 could trigger a corrective decline, potentially targeting 157.60 and 157.10.
Key Levels:
- Support: 158.20, 158.00, 157.60, 157.10
- Resistance: 159.20, 159.70
Important Note:
The release of high-impact U.S. economic data today, including monthly retail sales and core retail sales excluding cars, could induce significant price volatility. Traders are advised to closely monitor the market’s reaction to these data releases.
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: |