USD/JPY Rises Strongly, Facing Resistance at 153.930
USD/JPY Rises Strongly, Facing Resistance at 153.930
USD/JPY is in a strong uptrend, but it's approaching the resistance level at 153.930 – a “wall” that could apply reversal pressure.
On the other hand, the support at 152.551 acts as a “fortress” for buyers, ready to provide a bounce if the price pulls back.
A smart strategy is to wait for signals at these two levels: enter a sell position if the price touches resistance and fails to break through, or wait to buy if the price rebounds from support.
Don’t forget to set a reasonable stop-loss to protect your capital from unexpected market fluctuations.
Key news to watch: BOJ's forecast to keep interest rates unchanged amid uncertainty could drive USD/JPY higher, as the rate differential makes USD more attractive and puts downward pressure on JPY.
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