- Analytics
- News and Tools
- Market News
- USD/JPY: At risk of one more down leg toward 140.20/139.60 on failure to defend 200-DMA near 143.40 – SocGen
USD/JPY: At risk of one more down leg toward 140.20/139.60 on failure to defend 200-DMA near 143.40 – SocGen
USD/JPY retreats after rejecting the 50-Day Moving Average at 146.41 on Thursday. Economists at Société Générale analyze the pair’s technical outlook.
Break above 146.60/147.40 essential for confirming extension in rebound
USD/JPY has rebounded sharply after forming interim low near 140.20 late last month. It has reclaimed the 200-DMA and approached October low of 146.60/147.40 which is an interim resistance zone. An initial pullback is taking shape.
It would be interesting to see if the pair can defend the 200-DMA near 143.40. Failure would mean risk of one more down leg towards 140.20/139.60.
Break above 146.60/147.40 is essential for confirming extension in rebound.
© 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
