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The Japanese yen continues its confident intraday rise and has reached a two-week high against the weakening US dollar.
The Japanese yen continues its confident intraday rise and has reached a two-week high against the weakening US dollar. Bears in the USD/JPY pair are trying to accelerate the decline below the 155.40 area, which corresponds to the 100-period Simple Moving Average (SMA) on the 4-hour chart. Meanwhile, the oscillators on this same chart are in negative territory. However, it is worth noting that on the daily chart, they remain in positive territory. This suggests that the USD/JPY pair is not ready for a broad downward move and will likely find strong support near the psychological level of 155.00. Still, continued selling would confirm a breakdown, creating conditions for the weekly downtrend to resume.
On the other hand, any attempt at a significant recovery will face immediate resistance near the round level of 156.00. A move above this level could trigger a short-covering rally, pushing the price toward the 156.65–156.70 level. Above this zone, the USD/JPY pair could return to the round level of 157.00. This momentum may continue toward the intermediate level of 157.45–157.50, on the path to the multi-month high reached in November near the round level of 158.00.
*এখানে পোস্ট করা মার্কেট বিশ্লেষণ আপনার সচেতনতা বৃদ্ধির জন্য প্রদান করা হয়, ট্রেড করার নির্দেশনা প্রদানের জন্য প্রদান করা হয় না।
ইন্সটাফরেক্স বিশ্লেষণমূলক পর্যালোচনাগুলো আপনাকে মার্কেট প্রবণতা সম্পর্কে পুরোপুরি সচেতন করবে! ইন্সটাফরেক্সের একজন গ্রাহক হওয়ায়, দক্ষ ট্রেডিং এর জন্য আপনাকে অনেক সেবা বিনামূল্যে প্রদান করা হয়।