The USD/JPY pair is testing a long-term trendline support, which has held multiple times in the past, signaling a critical decision point.
The price has bounced off this level before, suggesting strong buyer interest in this zone. Additionally, the Stochastic RSI is oversold, hinting at a potential reversal.
If the price holds above this trendline and key support zone, we could see a bullish continuation toward new highs.
The price has bounced off this level before, suggesting strong buyer interest in this zone. Additionally, the Stochastic RSI is oversold, hinting at a potential reversal.
If the price holds above this trendline and key support zone, we could see a bullish continuation toward new highs.
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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.