USDJPY Stalemate: Uptrend On Hold Or Reversal In Sight?

10 and one 10 us dollar bill

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  • The Bullish Anchor: As long as the price remains above this crucial support level, the uptrend initiated at 145.89 remains valid. This suggests the current sideways movement could be interpreted as a consolidation phase within the ongoing uptrend.
  • 150.88 Resistance: The Hurdle to Overcome: Bulls need to overcome the resistance at 150.88 to signal a continuation of the uptrend. A breakout above this level could trigger another rise towards the 151.90 resistance, potentially solidifying the uptrend.


Potential Downturn: Watching the Support Crack

  • 149.52 Breakdown: Reversal Signal: A breakdown below the 149.52 support level would be a significant development, potentially indicating a completion of the uptrend from 145.89. This could lead to a downturn towards the next support zone around 148.80, marking a potential trend reversal.


Overall Sentiment:

The technical outlook for USDJPY is currently uncertain. While holding above 149.52 suggests a potential bullish continuation, a breakdown below this level could signal a trend reversal and further decline. Monitoring the price action around these key support and resistance levels will be crucial in determining the pair’s next move.


More By This Author:

USDJPY Stalemate: Uptrend Continuation Or Reversal Looming?
AUDUSD Breaks Free: Uptrend Resumption Or False Dawn?
USDCHF Retreats: Trend Reversal Or Consolidation Test?

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 ...

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