The USD/JPY has rallied decisively today, aided by the shift in Japanese bond sentiment.
The pair has broken several short-term levels and moving averages. At the time of writing, it was trading bang in the middle of the 144.00 -144.80 resistance area, formerly support. We also have the 21-day exponential moving average residing here.
As things stand, the next key upside target for the USD/JPY is now positioned near the 145 mark. Should price approach or breach it, we might begin to see growing confidence among longer-term bulls.
On the downside, key support is seen around the 142.50 level. Bearish below towards 140.00 next.
By Fawad Razaqzada, market analyst with FOREX.com
The pair has broken several short-term levels and moving averages. At the time of writing, it was trading bang in the middle of the 144.00 -144.80 resistance area, formerly support. We also have the 21-day exponential moving average residing here.
As things stand, the next key upside target for the USD/JPY is now positioned near the 145 mark. Should price approach or breach it, we might begin to see growing confidence among longer-term bulls.
On the downside, key support is seen around the 142.50 level. Bearish below towards 140.00 next.
By Fawad Razaqzada, market analyst with FOREX.com
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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.