Thu, Feb 25, 2021 @ 10:10 GMT
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USD/JPY Could Continue To Consolidate

The USD/JPY currency pair continues to move within the symmetrical triangle pattern.

From a theoretical perspective, it is likely that the exchange rate could continue to trade sideways within the predetermined pattern within the following trading session.

In the meantime, note that the rate is pressured by the 55-, 100– and 200-hour SMAs in the 103.80/103.90 range. Thus, a breakout south could occur, and the pair could target the weekly S1 at 103.47.

Dukascopy Swiss FX Group
This overview can be used only for informational purposes. Dukascopy SA is not responsible for any losses arising from any investment based on any recommendation, forecast or other information herein contained.

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