Noor Trends News, Technical Analysis, Educational Tools and Recommendations
The USD/JPY pair continues to exhibit mixed movements, with positive attempts that led to a high of 156.24 during the previous session’s trading.
From a technical perspective, there is a noticeable conflict in the signals today. The simple moving average continues to provide a positive incentive, supporting the likelihood of further gains, particularly with the pair trading above the 154.80 level. However, the Stochastic indicator hovers around the overbought zones, signaling potential downward pressure.
We recommend closely monitoring price behavior, as a break below 154.80 could expose the pair to negative pressure, targeting 154.30 and potentially 152.70. Conversely, consolidation above 156.80 may bolster the upward trend, with the next target at 157.80.
Caution: The risk remains elevated due to ongoing geopolitical tensions, leaving all scenarios on the table.
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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