USD/JPY pair has been trending lower in a well-defined descending channel, respecting its upper and lower boundaries. Price action recently tested the 61.8% Fibonacci retracement level (146.95), where a mild rebound is now taking shape.
Despite this, the 50-day SMA (152.84) and 200-day SMA (152.01) remain above price, acting as resistance levels should a reversal attempt materialize. The MACD remains in negative territory, confirming bearish momentum, while the RSI at 39.79 suggests the pair is approaching oversold conditions but hasn't confirmed a bullish shift yet.
Key Levels to Watch:
📉 Support: 146.95 (Fib 61.8%), 143.71 (Fib 78.6%)
📈 Resistance: 152.00 (200-day SMA), 152.84 (50-day SMA)
A break above the descending channel could suggest a reversal attempt, while continued rejection at the upper trendline favors further downside.
-MW
Despite this, the 50-day SMA (152.84) and 200-day SMA (152.01) remain above price, acting as resistance levels should a reversal attempt materialize. The MACD remains in negative territory, confirming bearish momentum, while the RSI at 39.79 suggests the pair is approaching oversold conditions but hasn't confirmed a bullish shift yet.
Key Levels to Watch:
📉 Support: 146.95 (Fib 61.8%), 143.71 (Fib 78.6%)
📈 Resistance: 152.00 (200-day SMA), 152.84 (50-day SMA)
A break above the descending channel could suggest a reversal attempt, while continued rejection at the upper trendline favors further downside.
-MW
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.