Market Technical Analysis by RoboForex

[RBFX Support]

USDJPY tests resistance: the yen gears up for a correction out of the sideways channel

The yen's strengthening has stalled, with the USDJPY pair poised for a correction. The USDJPY rate currently stands at 154.45.

Technical outlook

On the daily chart, the USDJPY pair continues to trade below the previously established 155.15 support level, while a new support level has not yet formed.

The outlook for the USDJPY rate remains moderately negative.

Read more - USDJPY Forecast

Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.

Sincerely,
The RoboForex Team