Hello everyone, Alexia here again!
The trading volume in the market is expected to decrease as the Japanese exchanges and banks are closed to celebrate Culture Day. This is causing it to remain in a tug-of-war around the 150.00 level.
On the other hand, despite the decline in the USD due to the Fed's push in the middle of the week, USD/JPY still has good bidding prices in the long term. The round support level of 150.000 is expected to be retested once.
The technical resistance level of 150.500 is very thin on the upside and is acting as a barrier, so surpassing this resistance level could bring USDJPY back to its previous high at 151.700 with strong support at the two previous support zones of 150.000 and 150.500.
The trading volume in the market is expected to decrease as the Japanese exchanges and banks are closed to celebrate Culture Day. This is causing it to remain in a tug-of-war around the 150.00 level.
On the other hand, despite the decline in the USD due to the Fed's push in the middle of the week, USD/JPY still has good bidding prices in the long term. The round support level of 150.000 is expected to be retested once.
The technical resistance level of 150.500 is very thin on the upside and is acting as a barrier, so surpassing this resistance level could bring USDJPY back to its previous high at 151.700 with strong support at the two previous support zones of 150.000 and 150.500.
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