USD/JPY Under Pressure, Facing Risk of Correction
Updated
USD/JPY is facing strong downward pressure, hovering around 141.56, with a downward trendline and key resistance at 142.541.
The EMA 34 (141.56) and EMA 89 (142.97) are reinforcing the short-term bearish trend.
If the price fails to break through this resistance, USD/JPY is likely to correct towards the support area and potentially drop further to 138.37.
In terms of news, USD/JPY earlier dropped to 141.00 during the Asian session as the BoJ forecasted a rate hike, contrasting with the Fed's expected easing. This policy divergence places the pair at risk ahead of the Fed event.
The EMA 34 (141.56) and EMA 89 (142.97) are reinforcing the short-term bearish trend.
If the price fails to break through this resistance, USD/JPY is likely to correct towards the support area and potentially drop further to 138.37.
In terms of news, USD/JPY earlier dropped to 141.00 during the Asian session as the BoJ forecasted a rate hike, contrasting with the Fed's expected easing. This policy divergence places the pair at risk ahead of the Fed event.
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