Understanding the Continued Downward Trend of the Japanese Yen Against the US Dollar

Thursday, 11 July 2024, 08:44

The USD/JPY pair is consolidating near 161.12 and is likely to move towards 162.00 in the ongoing uptrend. However, a correction to 158.80 is expected before potential growth towards 163.30. Technical analysis, particularly the MACD indicator, supports this bullish perspective with a strong uptrend signal.

Actionforex — Understanding the Continued Downward Trend of the Japanese Yen Against the US Dollar

Key Points:

Bullish Outlook: The USD/JPY pair is in an uptrend towards 163.30.

Correction Expected: Anticipated pullback to 158.80 before potential growth.

Technical Support: MACD indicator signals upward momentum.

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.

Key Points:

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