Analysis USD/JPY Market Trend
During the first half of the European trading session, the Japanese Yen (JPY) experienced daily declines, reaching its lowest point in over two weeks against the US Dollar (USD). This downward movement was spurred by a significant strengthening of the USD, further supported by remarks from Federal Reserve officials overnight.
Technical analysis based on indicators such as Simple Moving Average (SMA) and Relative Strength Index (RSI) has indicated a clear downward trend in prices. If the price breaks below the 151.00 support level, a sharp decline is anticipated, with further support levels being sought thereafter.
Technical analysis based on indicators such as Simple Moving Average (SMA) and Relative Strength Index (RSI) has indicated a clear downward trend in prices. If the price breaks below the 151.00 support level, a sharp decline is anticipated, with further support levels being sought thereafter.
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