Hello dear friends ! What do you think about the trend of USDJPY?
Currently, the pair is still holding on well to a recovery streak around 145.40 after it last plummeted to nearly 140.00.
However, in terms of trends, this currency pair still faces many difficulties as the market is still expecting a reduction in interest rates this year.
In fact, from the analysis chart, after the price decline, the correction is ongoing but has reached the retracement zone near the 0.5 Fibonacci level.
This will be a sensitive time for the pair as it also coincides with the 146.00 resistance level.
In case the price breaks beyond the 0.5 level, the upside prospect will continue, but if the price cannot surpass that level, the bearish scenario as mentioned above will take place with the possible reduction target returning to 144.00.
And you, do you think USDJPY will increase or decrease?
Currently, the pair is still holding on well to a recovery streak around 145.40 after it last plummeted to nearly 140.00.
However, in terms of trends, this currency pair still faces many difficulties as the market is still expecting a reduction in interest rates this year.
In fact, from the analysis chart, after the price decline, the correction is ongoing but has reached the retracement zone near the 0.5 Fibonacci level.
This will be a sensitive time for the pair as it also coincides with the 146.00 resistance level.
In case the price breaks beyond the 0.5 level, the upside prospect will continue, but if the price cannot surpass that level, the bearish scenario as mentioned above will take place with the possible reduction target returning to 144.00.
And you, do you think USDJPY will increase or decrease?
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