USD/JPY: The Uptrend is Strengthened, What's the Next Target?
It’s Alisa again! Let’s analyze the current movement of the USD/JPY pair together!
The USD/JPY pair surged to nearly 145.20 on Friday morning, reaching its highest level in almost three weeks. This buying pressure came after the release of Tokyo's CPI data. However, the market is now focusing on the U.S. PCE index, which will be released later today. The outcome of this index is expected to have a significant impact on the USD/JPY pair's movement.
Looking at the technical chart, this pair is forming a clear short-term uptrend. The key support level at 143.025 acts as a strong foundation, ready to support the price in case of a correction. Additionally, observing the 34 and 89 EMA lines, we can see a bullish reversal, further reinforcing the upward prediction for this pair.
What do you think about my analysis? Does it align with your thoughts?
The USD/JPY pair surged to nearly 145.20 on Friday morning, reaching its highest level in almost three weeks. This buying pressure came after the release of Tokyo's CPI data. However, the market is now focusing on the U.S. PCE index, which will be released later today. The outcome of this index is expected to have a significant impact on the USD/JPY pair's movement.
Looking at the technical chart, this pair is forming a clear short-term uptrend. The key support level at 143.025 acts as a strong foundation, ready to support the price in case of a correction. Additionally, observing the 34 and 89 EMA lines, we can see a bullish reversal, further reinforcing the upward prediction for this pair.
What do you think about my analysis? Does it align with your thoughts?
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