USDJPY Faces a Downtrend with Target at 135.492

6 days agoThe USDJPY chart is showing a strong downtrend after reaching a peak in July.

Currently, the price is trading around 142.67 with a clear descending wedge pattern forming. Strong resistance lies at 147.537, while the projected downside target is 135.492.

The EMA 34 and EMA 89 both indicate a downward trend, confirming selling pressure.

In terms of news, U.S. economic factors, especially the CPI report, are having a significant impact on the USD. If inflation decreases, the USD may weaken, allowing USDJPY to continue its downtrend toward lower levels.

5 days ago

Trade active

USDJPY is slightly rising, trading around the 147.50 level due to the weakening of the Yen following news from the Bank of Japan about maintaining its ultra-loose monetary policy. Meanwhile, the USD is supported by expectations that the Fed will keep interest rates high in the near future.