USD/JPY at a Critical Juncture: Breakout or Correction?
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USD/JPY is currently in a tense situation with prices hovering around $146.500. The strong resistance at $146.946 is putting significant pressure on buyers, and if they fail to break through, a sharp correction could push the price back to the support zone at $141.712.
The EMA 34 ($144.652) and EMA 89 ($143.920) are currently providing support, but selling pressure is building. If the price fails to hold these support levels, the likelihood of a breakout increases, creating strong selling opportunities for the bears.
Economic news from the U.S. may play a pivotal role in determining the next move for USD/JPY. Will the market break through to continue its upward trend, or will it reverse under the weight of selling pressure? Stay tuned for the upcoming developments!
The EMA 34 ($144.652) and EMA 89 ($143.920) are currently providing support, but selling pressure is building. If the price fails to hold these support levels, the likelihood of a breakout increases, creating strong selling opportunities for the bears.
Economic news from the U.S. may play a pivotal role in determining the next move for USD/JPY. Will the market break through to continue its upward trend, or will it reverse under the weight of selling pressure? Stay tuned for the upcoming developments!
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