USDJPY Tests 143 USD Resistance, Sell Opportunity Ahead
Updated
The market is influenced by the monetary policies of the Bank of Japan and the Fed, along with U.S. interest rate updates and global economic conditions, continuing to cause volatility for this currency pair.
On the 4-hour USDJPY chart, the price is trending downwards, moving below both the EMA and SMA 20, signaling strong selling pressure.
The resistance near 143 USD has been tested several times but remains unbroken, indicating strong selling forces at this level.
If the price fails to break the 143 USD resistance, USDJPY is likely to continue its downward movement, heading toward the 140 USD level. This could present a potential selling opportunity if the downtrend persists.
On the 4-hour USDJPY chart, the price is trending downwards, moving below both the EMA and SMA 20, signaling strong selling pressure.
The resistance near 143 USD has been tested several times but remains unbroken, indicating strong selling forces at this level.
If the price fails to break the 143 USD resistance, USDJPY is likely to continue its downward movement, heading toward the 140 USD level. This could present a potential selling opportunity if the downtrend persists.
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USD/JPY on September 9th, 2024, continues to face pressure from economic factors. The pair is expected to maintain its upward trend due to the interest rate differential between the U.S. and Japan. However, the Yen may receive support if the Bank of Japan raises interest rates this month, potentially causing market volatility.
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