Hello everyone !
Last Friday the spot price was 147.30, this week we see that "downward pressure is easing and the possibility of further declines in USDJPY has decreased." In NY trading, USDJPY rose above our "strong resistance" level at 147.80 (with a high of 147.96).
On the H4 chart we can see that gold is in an uptrend that is expected to decrease in the short term as a stepping stone for the potential increase in price according to the trend that we previously knew.
If that happens, it is likely to reach the psychological level of 148,500 and 149 JPY. It can be said to invite many buyers to join the game.
Last Friday the spot price was 147.30, this week we see that "downward pressure is easing and the possibility of further declines in USDJPY has decreased." In NY trading, USDJPY rose above our "strong resistance" level at 147.80 (with a high of 147.96).
On the H4 chart we can see that gold is in an uptrend that is expected to decrease in the short term as a stepping stone for the potential increase in price according to the trend that we previously knew.
If that happens, it is likely to reach the psychological level of 148,500 and 149 JPY. It can be said to invite many buyers to join the game.
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good luck
