What do you think about the outlook for the USD/JPY pair?Hello everyone, this is Alisa. Today, let's analyze the movements of the USD/JPY pair together! Will it go up or down?
Currently, the Japanese Yen is stable due to concerns about government intervention and geopolitical risks. However, the reduced likelihood of the Bank of Japan raising interest rates might hold the pair back and push it lower. Additionally, a modest decline in the US Dollar (USD) is also putting some downward pressure on the USD/JPY pair.
Looking at the technical chart, the USD/JPY pair is facing strong pressure at the resistance level of 148.985. Trading volume and technical indicators suggest that the chance of breaking this resistance in the short term is relatively limited. If it fails to break this level, the pair might reverse and fall towards the support level of 146.145.
That's my view. What do you think? Do you agree with me?
