USD/JPY Price Analysis: Key Levels and Bullish Prospects for Currencies
Thursday, 3 October 2024, 13:58
Key Levels to Watch in USD/JPY
In the latest technical analysis, the USD/JPY pair has shown an upward trend, climbing above 147.00. For sustained bullish momentum, it is crucial to observe the resistance at 147.25, the top of the Kumo cloud. If bullish momentum persists and this level is cleared, we can expect the next target at 147.78, which aligns with the Senkou Span B.
Forecasting the Next Moves
- Should USD/JPY breach 147.25, watch for potential movement towards 148.00.
- Technical indicators suggest a potential consolidation above these significant levels.
- Risk management protocols are recommended to navigate potential volatility.
Overall, monitoring these crucial resistance levels will be essential for traders in navigating the trading landscape effectively.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.