USD/JPY Price Analysis: Potential Short-Term Downside
Pivot Point: 150.30
This level acts as a critical resistance, influencing potential bearish movements.
Market Outlook
Our Preference:
Bearish Scenario: Short positions are recommended below 150.30, with downside targets likely.
Target Levels:
Target 1: 149.50
Target 2: 149.20
These are the immediate downside objectives for traders holding short positions, should the price remain under the pivot.
Alternative Scenario
If USD/JPY breaks above 150.30:
Bullish Outlook: Further upside could be expected.
Target Levels:
Target 1: 150.50
Target 2: 150.75
This suggests potential for upward momentum if the price surpasses the pivot.
Technical Indicators
RSI (Relative Strength Index): Indicates caution, as failure to surpass 150.30 could accelerate selling pressure.
Pivot Point: 150.30
This level acts as a critical resistance, influencing potential bearish movements.
Market Outlook
Our Preference:
Bearish Scenario: Short positions are recommended below 150.30, with downside targets likely.
Target Levels:
Target 1: 149.50
Target 2: 149.20
These are the immediate downside objectives for traders holding short positions, should the price remain under the pivot.
Alternative Scenario
If USD/JPY breaks above 150.30:
Bullish Outlook: Further upside could be expected.
Target Levels:
Target 1: 150.50
Target 2: 150.75
This suggests potential for upward momentum if the price surpasses the pivot.
Technical Indicators
RSI (Relative Strength Index): Indicates caution, as failure to surpass 150.30 could accelerate selling pressure.
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.
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.