USDJPY | Analysis: Consolidation Watch & Shocking US Employment Data | Forex
Hello traders, thank you for joining us for today’s update. Let’s dive into the latest on the USDJPY. Following surprising US employment data last Friday, the USDJPY saw a boost. Now, we’re curious if this momentum will persist. Currently, the price remains on an upward trajectory since breaking the previous downtrend in December.
Today’s focus: USDJPY
Pattern – Consolidation Watch
Support – 146.20
Resistance – 148.50, 151.70
The key for buyers now is a break of 148.50 resistance. If we see that break, we will be waiting to see if buyers can retest the 151.70 resistance. A close below 146.20 would be a worry for buyer momentum.
Good trading.
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