USDJPY achieves bullish target 18/10/2024

The USD/JPY pair succeeded in reaching the official targets of 150.00 and 150.40, with a high of 150.33.

Technical Outlook:
Today, the technical analysis remains cautiously positive, supported by the simple moving averages and the stability of trading above the 150.00 psychological barrier. As long as intraday trading stays above 149.40, the pair is expected to continue upwards, targeting 150.90. Breaching this level could further enhance the bullish trend towards 151.20, with potential gains extending to 151.50.

On the downside, if the pair closes an hourly candle below 149.40, we may see temporary negative pressure, aiming to retest the main support at 148.50.

Warnings:

• The risk level remains high, and the return may not justify the potential risks.
• Geopolitical tensions persist, creating an environment where 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.

S1: 149.40	R1: 150.45
S2: 148.75	R2: 150.90
S3: 148.30	R3: 151.50