USDJPY Technical Analysis 16/09/2024
The USDJPY is giving bullish signals across different timeframes. Prices have dropped to the demand zone on the weekly chart.
At this point, the trend is no longer your friend because it has entered the "Trend Exhaustion" phase.
There is a broad RSI bullish divergence on the daily chart, supporting a potential rise.
On the 4-hour chart, a Stochastic bullish crossover has formed in the oversold zone.
Prices are likely to consolidate until the release of this week’s core retail sales report, but we are at a favorable level to begin gradual buying.
At this point, the trend is no longer your friend because it has entered the "Trend Exhaustion" phase.
There is a broad RSI bullish divergence on the daily chart, supporting a potential rise.
On the 4-hour chart, a Stochastic bullish crossover has formed in the oversold zone.
Prices are likely to consolidate until the release of this week’s core retail sales report, but we are at a favorable level to begin gradual buying.
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