Noor Trends News, Technical Analysis, Educational Tools and Recommendations
The USD/JPY pair experienced negative movement during the previous session, consistent with the anticipated corrective decline outlined in the prior report. The pair approached the initial corrective target of 156.20, recording a low of 156.40.
Technical Outlook:
The bearish bias remains in play, supported by the persistent negative pressure from the simple moving averages and the pair’s inability to breach the psychological resistance level at 158.00.
As long as daily trading remains below 158.00, the corrective downtrend is expected to continue. The initial target is set at 156.60, with a break below this level likely to accelerate the decline toward the official target of 155.75.
Alternative Scenario:
A successful breach of the 158.00 resistance will invalidate the bearish outlook and shift the momentum toward the upside. In such a case, the pair may resume its upward trajectory, targeting 159.30.
Risk Considerations:
Ongoing geopolitical tensions contribute to elevated market uncertainty. Traders should remain cautious, as heightened volatility means 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.
| S1: |