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USD/JPY remains in a broader uptrend but is currently retracing toward the 148.0 – 149.0 support zone. This level has historically acted as a strong demand area, increasing the likelihood of a potential reversal. A confirmed bullish reaction from this zone could drive the price toward the 157.9 resistance level. However, a breakdown below 148.0 may signal further downside. Traders should wait for confirmation before entering long positions, ensuring proper risk management.
USD/JPY remains in a broader uptrend but is currently retracing toward the 148.0 – 149.0 support zone. This level has historically acted as a strong demand area, increasing the likelihood of a potential reversal. A confirmed bullish reaction from this zone could drive the price toward the 157.9 resistance level. However, a breakdown below 148.0 may signal further downside. Traders should wait for confirmation before entering long positions, ensuring proper risk management.
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Unlock Market Insights! 🚀
Join our Telegram for expert analysis, free trading signals & real-time updates. Stay ahead in the game.👇
t.me/OliviaGrace_0
Join our Telegram for expert analysis, free trading signals & real-time updates. Stay ahead in the game.👇
t.me/OliviaGrace_0
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.