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The technical outlook remains positive, with the USD/JPY pair attempting to build an upward wave within the expected bullish context from the previous report, as current movements indicate attempts to break through the 145.55 resistance level.
Technically today, with a close examination of the 240-minute chart, we maintain a positive bias but with caution, relying on the positive momentum from the simple moving averages and the momentum indicator’s efforts to generate positive signals on short-term intervals.
Therefore, as long as trading remains stable above 144.00, our positive expectations are valid, with a confirmed break of 145.55 likely extending the pair’s gains towards 146.00 and 146.50, with further potential gains reaching 147.00.
From below, an hourly candle closing below 144.00 will halt the upward attempts, leading to a trading session in negative territory, initially targeting 143.40.
Warning: The risk level is high and may not align with the expected return.
Warning: Today, we are anticipating high-impact economic data from the US economy, particularly “Core Personal Consumption Expenditure Prices – Annual,” which may cause significant price volatility upon release.
Warning: The risk level is high amid ongoing geopolitical tensions, and all scenarios are 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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