U.S. Dollar / Japanese YenUpdated USDJPY: Increase or decrease further?
Hello everyone, what do you think about USDJPY?
The USD/JPY pair held steady below the 146.00 threshold during early Tuesday's Asian trading session. Overall, the pair's rally was supported by a stronger US Dollar on Monday, supported by sour market sentiment and a weaker Japanese Yen. The pair regained most of the ground lost on Friday and hit an intraday high near 146.00.
Accordingly, this pair is still in the corrective wave from the previously completed wave 1 (Part highlighted in red). If the increase continues, it is expected that the decline will grow to 147,400, which is the 0.618 fibonacci level.
And you, do you think USDJPY will increase or decrease in the near future?
The USD/JPY pair held steady below the 146.00 threshold during early Tuesday's Asian trading session. Overall, the pair's rally was supported by a stronger US Dollar on Monday, supported by sour market sentiment and a weaker Japanese Yen. The pair regained most of the ground lost on Friday and hit an intraday high near 146.00.
Accordingly, this pair is still in the corrective wave from the previously completed wave 1 (Part highlighted in red). If the increase continues, it is expected that the decline will grow to 147,400, which is the 0.618 fibonacci level.
And you, do you think USDJPY will increase or decrease in the near future?
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Note
The price is moving as expected and is about to reach the target
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Related publications
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.