Yen Ain't Seen Nothin' Yet: USD on the Climb!
Alright y’all, let’s get into the USD/JPY analysis. As you can see, we’re currently sitting at around the 149.30 level after testing the daily resistance near 149.30 (marked by the white horizontal line). Looking back on the higher timeframe (the daily chart), the price has been trending up recently, respecting that yellow 21-period EMA, which shows us the bulls are still in control.
Now, peep this: the weekly resistance sits at 150.81, so if we get enough bullish momentum, that’s the next target to look out for. On the flip side, we have a couple of support levels to consider on the downside, with the daily support around 147.93 and another at 147.28. These zones can act as our entry points if the price pulls back for a retest.
What I’m eyeing here is a potential break above the daily resistance, and if that happens, it’ll be a solid signal to go long towards the weekly resistance at 150.81, and maybe even 151.75 if we get that extra push. But, if price breaks below the trendline and pulls back toward support around 147.93, we might see a reversal. Keep those levels tight and watch for confirmations before jumping in!
Let’s see how this plays out. Always remember to manage your risk!
Now, peep this: the weekly resistance sits at 150.81, so if we get enough bullish momentum, that’s the next target to look out for. On the flip side, we have a couple of support levels to consider on the downside, with the daily support around 147.93 and another at 147.28. These zones can act as our entry points if the price pulls back for a retest.
What I’m eyeing here is a potential break above the daily resistance, and if that happens, it’ll be a solid signal to go long towards the weekly resistance at 150.81, and maybe even 151.75 if we get that extra push. But, if price breaks below the trendline and pulls back toward support around 147.93, we might see a reversal. Keep those levels tight and watch for confirmations before jumping in!
Let’s see how this plays out. Always remember to manage your risk!
Sheena Lynne
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.