USD/JPY Price Forecast: A Technical Analysis of Currency Movement
Friday, 11 October 2024, 14:13
USD/JPY Price Forecast: Currencies Technical Analysis
The USD/JPY currency pair continues to demonstrate significant consolidation, currently trading within the range of 148.00-149.50. As US 10-year yields have surged to 4.104%, momentum appears to favor buyers in this market.
Potential for Bullish Movement
- If USD/JPY successfully breaks above 149.50, it would expose the critical 150.00 level.
- Market dynamics reflect an increased investor appetite for the US dollar.
Key Resistance Levels
- Initial resistance at 149.50.
- Key resistance at 150.00, a psychological barrier.
Traders should monitor these levels closely for signs of movement, as a breakthrough could lead to new opportunities in the currency market.
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.