See also
17.12.2024 05:19 AMThe USD/JPY pair successfully broke through the key resistance level of 153.60 and approached the intermediate level of 154.72. Overcoming this level would allow the price to continue upward toward 156.79. However, readings from the Marlin oscillator indicate that the dollar's momentum is weakening.
The primary scenario now suggests a return of the price below 153.60, with further downward movement toward 150.83, after breaking through the intermediate support at 152.16. The significance of the 150.83 level is reinforced by the MACD line approaching it.Key events to watch remain the Federal Reserve's meeting tomorrow and the Bank of Japan's meeting on Thursday.
In the 4-hour timeframe, the prolonged consolidation of the Marlin oscillator suggests a price reversal as the main scenario. A solid move below 153.60 will serve as the first confirming signal of this reversal.
You have already liked this post today
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.
If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.
Why does your IP address show your location as the USA?
Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaTrade anyway.
We are sorry for any inconvenience caused by this message.
