USD/JPY: Facing the Abyss – Escape or Free Fall?
USD/JPY is locked in a fierce battle between bulls and bears, but the "bears" are clearly in control. The price is sinking below the EMA 34 & EMA 89 on the 4H chart, sliding down a descending channel like a runaway car with no brakes. With Japan's Manufacturing PMI set for release, the market is bracing for the final blow to this currency pair.
The bulls are holding their ground, but can they withstand the 152.29 resistance, a level that has stood firm in the past? If they fail, a slide toward 148.66 will only be a matter of time!
Warning: Japan's PMI will be the ultimate trigger. If the data comes in weaker than expected, JPY could lose momentum. However, if it beats forecasts, USD/JPY might go into free fall with no safety net!
The bulls are holding their ground, but can they withstand the 152.29 resistance, a level that has stood firm in the past? If they fail, a slide toward 148.66 will only be a matter of time!
Warning: Japan's PMI will be the ultimate trigger. If the data comes in weaker than expected, JPY could lose momentum. However, if it beats forecasts, USD/JPY might go into free fall with no safety net!
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🚀 Join my Telegram channel now: t.me/+VLlFOChDdhtiYzU1 to receive super-fast and super-accurate trading signals 📈. With a win rate of up to 85%, success is just a click away! 🔥
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.