Analyzing the Reversal of USDJPY at Support Level 160.00

Wednesday, 10 July 2024, 02:02

The USDJPY currency pair has shown a significant reversal movement from the crucial support level of 160.00, which previously acted as resistance in April. This reversal has halted the previous impulse wave, indicating a potential shift in market sentiment and trading dynamics. Traders and investors are closely monitoring this development for potential trading opportunities and directional cues.
Actionforex
Analyzing the Reversal of USDJPY at Support Level 160.00

USDJPY Wave Analysis

The USDJPY currency pair recently reversed up from the key support level 160.00, which had previously functioned as a resistance point in April, resulting in a halt to the previous impulse wave (1).


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.


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