Sun, Dec 04, 2022 @ 08:31 GMT
HomeContributorsTechnical AnalysisUSD/JPY Hits Resistance

USD/JPY Hits Resistance

The Japanese yen recovered as the Tokyo core CPI beat estimates in September. The price has recouped most losses from the previous sell-off, a sign that sentiment remains upbeat despite a temporary setback. A close above the recent top at 145.80 may attract momentum buying and resume the uptrend in the weeks to come. Then August 1998’s high at 147.50 would be the next target. As the RSI climbs into overbought territory, the lower end of a brief consolidation (143.90) is the first support in case of a pullback.

At Orbex, we are dedicated to serving our clients responsibly with the latest innovations in forex tools and resources to assist you in trading.

Featured Analysis

Learn Forex Trading