- Analytics
- News and Tools
- Market News
- USD/JPY Price Analysis: Bulls could be about to step in again at prior resistance
USD/JPY Price Analysis: Bulls could be about to step in again at prior resistance
- USD/JPY bulls take a step back but eye higher highs.
- The price is meeting a prior area of resistance eyed as potential support.
USD/JPY has reached the highest levels since November 2022 as the US Federal Reserve maintained a hawkish stance in Wednesday's interest rate announcement with the dot plot hinting at two more quarter-point rate increases this year. However, a big wick is being left on the day's candle currently as the US Dollar and US Treasury yields pared gains. At the same time, investors digested the European Central Bank's interest rate hike and a flurry of economic data. Nevertheless, should support on the 4-hour charts hole, there will be prospects of a bullish extension in the coming sessions and days as the following analysis illustrates:
USD/JPY daily charts
USD/JPY H4 chart
The support on the 4-hour chart could be where the price is meeting old resistance that is aligned with the 50% mean reversion of the 4-hour bullish impulse.
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
