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Forex

USD/JPY extends its decline – OCBC

USD/JPY prolonged its decline following the broad decline in USD. USD/JPY was final at 143.74 ranges, OCBC’s FX analysts Frances Cheung and Christopher Wong notice.

Bullish momentum on day by day chart is fading

“USD/JPY prolonged its decline, monitoring the broad decline in USD and issues over studies on a possible Israel strike on Iran (resulting in secure haven flows) whereas Japan’s plan to satisfy US through the G7 assembly (on 23 Could) to debate matters together with FX saved the pair pressured.”

“Bullish momentum on day by day chart exhibits indicators of fading whereas RSI fell. Assist subsequent at 142.30, 141.80 ranges. Resistance at 144.40/50 ranges (21 DMA, 23.6% fibo retracement of 2025 excessive to low), 146 (50 DMA). We saved our brief USD/JPY (entered at 148 as per FX Weekly 13 Could), concentrating on a transfer in direction of 141. SL at 151.”

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