USD/JPY Technical Analysis: Currencies Approach Critical Support Levels
Wednesday, 4 September 2024, 14:02
Continued Downtrend in USD/JPY
The USD/JPY pair has exhibited a strong bearish movement, falling beneath the significant support level of 144.00. This decline is indicative of a resumption in the downtrend, prompting traders to analyze the potential implications for this currency pair.
Critical Levels to Watch
To regain bullish momentum, bulls must reclaim the Kijun-Sen at 148.45. Failure to breach this level could signal further declines, and traders should remain vigilant of the resistance at 150.00, which poses a significant barrier to upward movements.
Market Sentiment and Strategies
- Monitor the upcoming technical indicators for signs of reversals.
- Evaluate overall market sentiment around USD/JPY trading.
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.