USD/JPY Into Key Support- Fed on Tap
USD/JPY is testing a massive support confluence here at fresh yearly lows around 140.25-141.02- a region defined by the December swing low, the 61.8% Fibonacci retracement of the 2023 advance and the objective 2024 yearly open. Looking for possible exhaustion / price inflection off this mark in the days with the immediate decline vulnerable while above.
Key resistance bearish invalidation now lowered ot the February low-day close (LDC) at 146.42.
A break / close below this key pivot exposes the next major lateral zone at 137.24/91- the 2023 July low / March high.
Fed on tap next week- watch the weekly closes here.
Michael Boutros
MBForex
Key resistance bearish invalidation now lowered ot the February low-day close (LDC) at 146.42.
A break / close below this key pivot exposes the next major lateral zone at 137.24/91- the 2023 July low / March high.
Fed on tap next week- watch the weekly closes here.
Michael Boutros
MBForex
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