USDJPY Analysis - Friday, Jan. 5

Yen, Money, Wealth, Japanese Yen

Image Source: Pixabay
 

The USDJPY currency pair has experienced a significant breakthrough, surpassing the key resistance level at 144.95. This breakout indicates that the previous downward movement from 151.90 has likely concluded at 140.25.

The recent price action suggests the possibility of a further rally in the coming days, with the next target set around the 146.50 area, followed by 149.50. This indicates a potential upside momentum for the USDJPY pair.

Immediate support is identified at 144.25. A breakdown below this level would suggest a correction for the upside move from 140.25. In such a scenario, the pair may find support around the 142.80 area.


More By This Author:

GBPUSD Analysis - Thursday, Jan. 4
EURUSD Analysis - Thursday, Jan. 4
Hard Red Winter Wheat: Buying Weekly Pullbacks

Disclaimer: Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only ...

more
How did you like this article? Let us know so we can better customize your reading experience.

Comments

Leave a comment to automatically be entered into our contest to win a free Echo Show.
Or Sign in with