Hi there,
The USDJPY appears to have reached a support area and formed a demand zone. It is worth noting that the demand zone is not fully formed yet, as there is no clear higher low above it.
However, the support area suggests that an upward movement might hold despite the bearish pressure seen on the weekly time frame. There is a resistance level at 143.158, and if the price rises above this resistance, the upward momentum could continue.
The levels 143.667 and 144.508 are potential target areas, with a bias toward 145.109.
Happy trading,
K.
Not trading advice
The USDJPY appears to have reached a support area and formed a demand zone. It is worth noting that the demand zone is not fully formed yet, as there is no clear higher low above it.
However, the support area suggests that an upward movement might hold despite the bearish pressure seen on the weekly time frame. There is a resistance level at 143.158, and if the price rises above this resistance, the upward momentum could continue.
The levels 143.667 and 144.508 are potential target areas, with a bias toward 145.109.
Happy trading,
K.
Not trading advice
Trade active
That is fine. It is okay.Trade closed: target reached
It's alright, that is good.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.