USD/JPY Sideways Before Resistance at 150.077
Based on the USD/JPY chart, the price is currently hovering around 149.452 with two key resistance levels at 150.077 and support below at 148.383. After touching the resistance, the price may form a short-term sideways pattern.
If the price breaks above the 150.077 resistance, the upward trend may continue. Conversely, if the price fails to break through, a correction back to the support level of 148.383 is likely.
The 34 EMA and 89 EMA are acting as crucial dynamic support levels, indicating that the overall trend remains bullish as long as these support levels hold.
Traders should closely monitor price reactions at the resistance area, as it will determine the next direction of the trend.
If the price breaks above the 150.077 resistance, the upward trend may continue. Conversely, if the price fails to break through, a correction back to the support level of 148.383 is likely.
The 34 EMA and 89 EMA are acting as crucial dynamic support levels, indicating that the overall trend remains bullish as long as these support levels hold.
Traders should closely monitor price reactions at the resistance area, as it will determine the next direction of the trend.
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