The USD/JPY chart is painting an intriguing picture of a tense battle between buyers and sellers.
Currently, the price hovers around $142.582, with solid protection from the $141.682 support level. This is the final "shield" preventing deeper declines.
However, all eyes are on the key resistance level at $145.938. If the bulls muster enough strength to break through this level, a breakout to new highs could open up, offering a valuable opportunity for those bold enough to seize it.
The intrigue doesn't end there. The EMA 34 and EMA 89 at $143.437 and $143.373 are providing solid support, helping to maintain the market's rhythm.
Traders are anxiously awaiting hot economic data from the U.S., fueling market tension. Will USD/JPY make a spectacular breakout or reverse course?
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.