USD/JPY: Breakout or Drop from Support?
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On the 1-hour USD/JPY chart, the price is currently restrained by a descending trendline and resistance around the 152.458 level, where the 34 and 89 EMAs converge, acting as a dynamic barrier. The short-term trend remains influenced by selling pressure, yet the strong support at 151.537 continues to serve as a "shield" for buyers, with signs of a potential rebound from this level.
If the price retests the 151.537 support zone without breaking it, a recovery toward the 152.458 region is highly likely. Should the price break through this resistance clearly, it could signal a new upward movement, targeting levels beyond 152.500.
However, if the price falls deeper and breaks through the 151.537 support, selling pressure may drive USD/JPY to lower levels. A prudent strategy is to monitor price reactions at these key support and resistance levels to determine the next direction.
If the price retests the 151.537 support zone without breaking it, a recovery toward the 152.458 region is highly likely. Should the price break through this resistance clearly, it could signal a new upward movement, targeting levels beyond 152.500.
However, if the price falls deeper and breaks through the 151.537 support, selling pressure may drive USD/JPY to lower levels. A prudent strategy is to monitor price reactions at these key support and resistance levels to determine the next direction.
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