USD/JPY Consolidating Near Resistance – Reversal or Breakout?
Currently, USD/JPY is moving within a horizontal consolidation zone, fluctuating around 150.39. The pair has seen a moderate recovery but remains within the descending trendline resistance.
Key Resistance at 152.13 – This is a crucial level to watch. If the price fails to break above this zone, sellers may step in aggressively, reinforcing the downtrend.
Additionally, the Exponential Moving Averages (EMA 34, 89) continue to indicate a bearish trend, suggesting that this short-term upward move might soon lose momentum.
Key Resistance at 152.13 – This is a crucial level to watch. If the price fails to break above this zone, sellers may step in aggressively, reinforcing the downtrend.
Additionally, the Exponential Moving Averages (EMA 34, 89) continue to indicate a bearish trend, suggesting that this short-term upward move might soon lose momentum.
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