USD/JPY will now probably drop down to around 150.00
Technical Analysis of the U.S. Dollar / Japanese Yen (USD/JPY)
USD/JPY has shown a strong performance since the beginning of 2023, moving within a long-term uptrend.
The long-term uptrend has been taken, but now the exchange rate for USD/JPY is falling after testing the resistance level up against the upper trend line in the uptrend twice in recent months.
There has also recently been a break down from the short-term rising trend, and below an important technical support level around 158.00 (cf. chart).
There has also been a break below the 50-day moving average.
There is now technical resistance for USD/JPY around 158.00 and up against the 50-day moving average, and there is a test of this resistance level these days.
Based on the overall technical picture now for USD/JPY, further decline is signaled in the short term, and down to the 200-day moving average and down towards a significant and important technical support level around 150.00 - 152.00.
Down towards this level, i.e. around 150.00 - 152.00, there could be further upswing again within the long-term upward trend for USD/JPY, but in the short term now a further decline is signaled for USD/JPY to around 150.00 - 152.00.
USD/JPY has shown a strong performance since the beginning of 2023, moving within a long-term uptrend.
The long-term uptrend has been taken, but now the exchange rate for USD/JPY is falling after testing the resistance level up against the upper trend line in the uptrend twice in recent months.
There has also recently been a break down from the short-term rising trend, and below an important technical support level around 158.00 (cf. chart).
There has also been a break below the 50-day moving average.
There is now technical resistance for USD/JPY around 158.00 and up against the 50-day moving average, and there is a test of this resistance level these days.
Based on the overall technical picture now for USD/JPY, further decline is signaled in the short term, and down to the 200-day moving average and down towards a significant and important technical support level around 150.00 - 152.00.
Down towards this level, i.e. around 150.00 - 152.00, there could be further upswing again within the long-term upward trend for USD/JPY, but in the short term now a further decline is signaled for USD/JPY to around 150.00 - 152.00.
You are welcome to visit StockCharts365.com and read more technical analyzes there about shares in the US, shares in the Nordics, important stock market indices, currencies, cryptocurrencies and commodities.
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.