USDJPY Price Forecast: Technical Analysis on Majors Highlights Bearish Trend
Understanding the Current USDJPY Dynamics
The USDJPY price forecast remains pivotal as it recovers from the critical level of 146.00, reflecting a strong technical analysis on Majors. Despite this recovery, the trend appears bearish in nature.
Buyer Momentum and Resistance Levels
Recent movements show buyers gaining momentum, signified by an upward trend in the RSI. For a bullish shift, the USDJPY must break through the Tenkan-Sen level at 146.92.
Implications for Future Movements
Should the USDJPY successfully breach this resistance, the focus will shift to further key levels that could dictate the next steps in trading strategies.
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.