USD/JPY: Key Resistance at 150.00 in Focus
The USD/JPY pair is at a critical juncture, trading near the psychological level of 150.00. With resistance from both the descending red trendline and the ascending black trendline, this area is shaping up to be a decisive battleground for bulls and bears.
Resistance in Play
The 150.00 zone has proven to be a formidable barrier, aligning with key trendlines. Failure to break above this level could signal the start of a broader correction, inviting increased bearish pressure.
Potential Downside Target
If a rejection occurs, the pair is likely to head toward the 140.00–142.00 support zone, which serves as the next significant area for price stabilization and potential buying interest.
Resistance in Play
The 150.00 zone has proven to be a formidable barrier, aligning with key trendlines. Failure to break above this level could signal the start of a broader correction, inviting increased bearish pressure.
Potential Downside Target
If a rejection occurs, the pair is likely to head toward the 140.00–142.00 support zone, which serves as the next significant area for price stabilization and potential buying interest.
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