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The intraday decline showed some resilience below the 100-period Simple Moving Average (SMA) on the 4-hour chart. This comes on the back of a solid rebound from the 200-period SMA on the 4-hour chart, around the 147.30 area, or the lowest level since September 14 touched on Tuesday, and supports prospects for a further near-term appreciating move for the USD/JPY pair.
Moreover, oscillators on the daily chart – though have been retreating recently – are still holding comfortably in the positive territory. This, in turn, favours bullish traders and suggests that the path of least resistance for the USD/JPY pair is to the upside. Any subsequent move up, however, might confront some barrier near the 149.60 area, above which bulls might aim back to challenge the 150.00 intervention level.
The intraday decline showed some resilience below the 100-period Simple Moving Average (SMA) on the 4-hour chart. This comes on the back of a solid rebound from the 200-period SMA on the 4-hour chart, around the 147.30 area, or the lowest level since September 14 touched on Tuesday, and supports prospects for a further near-term appreciating move for the USD/JPY pair.
Moreover, oscillators on the daily chart – though have been retreating recently – are still holding comfortably in the positive territory. This, in turn, favours bullish traders and suggests that the path of least resistance for the USD/JPY pair is to the upside. Any subsequent move up, however, might confront some barrier near the 149.60 area, above which bulls might aim back to challenge the 150.00 intervention level.
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🟢Global growth is well below the average of 3.8 before the pandemic.🟢Holding back inflation requires interest rates to stay higher for longer.
🟢The International Monetary Fund has warned of significant risks on the fiscal front in many countries, as rising interest rates have increased debt burdens.
🟢This increases the chances of a soft landing for the global economy, but we cannot let our guard down.
🟢A few credit tightening Many borrowers, such as commercial real estate companies in the United States and Europe are under pressure.
🟢Continued pressures in the real estate sector are a cause for concern within China.
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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.