USDJPY: Thoughts and Analysis

2월 5일

Today's focus: USDJPY

Pattern – Consolidation Watch
Support – 146.20
Resistance – 148.50, 151.70

Hi, traders; thanks for tuning in for today's update. Today, we are looking at the USDJPY.

After US employment data shocked on Friday and lifted the USD, we are wondering if we will see trend continuations on the USDJPY. So far, the price continues to travel on its uptrend after breaking the last downtrend in December.

The key for buyers now is a break of 148.50 resistance. If we see that break, we will be waiting to see if buyers can retest 151.70 resistance. A close below 146.20 would be a worry for buyer momentum.

Good trading.