USDJPY: Testing Key Support After Sharp Decline

4일 전

👋Hello everyone, let’s take a look at USDJPY !

Today, USDJPY continues to weaken as the U.S. Dollar falls further to the 147.00 level against the Yen, marking nearly a 2% decline over the past four days. The looming U.S. government shutdown and weak U.S. job data have weighed heavily on the Dollar this week, leaving USDJPY struggling to find support.

On the other hand, after recently hitting a new high near the 150.00 zone, USDJPY plunged and returned to its previous consolidation area. As of writing, the pair is trading close to a critical support zone. This level has acted as a strong bounce area for USDJPY multiple times in the past, so we can expect the possibility of a similar rebound soon. However, a decisive break below this level would open up much greater opportunities for the sellers.

Let’s wait and see how USDJPY reacts at this support level—it could be an excellent opportunity for both sides. As for me, I’m looking forward to a potential rebound. What about you? What’s your view on this pair?

3일 전

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