USDJPY is moving within a clear descending channel and is now approaching the strong resistance area at 143.500 – where the EMA 34, EMA 89, and the upper trendline all converge.
Historically, each time price touched this zone, a strong rejection followed. If the same happens again, we could see a move back down to 142.000 and potentially 140.500.
On the fundamental side, the recently released U.S. ISM Services data disappointed, fueling expectations that the Fed might cut rates sooner – adding bearish pressure to the USD.
Preferred scenario: watch for price reaction around 143.500 to enter a short position in line with the downtrend.
Historically, each time price touched this zone, a strong rejection followed. If the same happens again, we could see a move back down to 142.000 and potentially 140.500.
On the fundamental side, the recently released U.S. ISM Services data disappointed, fueling expectations that the Fed might cut rates sooner – adding bearish pressure to the USD.
Preferred scenario: watch for price reaction around 143.500 to enter a short position in line with the downtrend.
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Top trading opportunities are waiting for you! : t.me/+aljKUwb-ar1jNDg1
🔥 High-quality signals – Win rate up to 85%
📍 Accurate, verified technical analysis
⚡ Fast updates – Never miss a golden entry
🔥 High-quality signals – Win rate up to 85%
📍 Accurate, verified technical analysis
⚡ Fast updates – Never miss a golden entry
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.