The USD/JPY chart is painting an intriguing picture of a tense battle between buyers and sellers.
Currently, the price hovers around $142.582, with solid protection from the $141.682 support level. This is the final "shield" preventing deeper declines.
However, all eyes are on the key resistance level at $145.938. If the bulls muster enough strength to break through this level, a breakout to new highs could open up, offering a valuable opportunity for those bold enough to seize it.
The intrigue doesn't end there. The EMA 34 and EMA 89 at $143.437 and $143.373 are providing solid support, helping to maintain the market's rhythm.
Traders are anxiously awaiting hot economic data from the U.S., fueling market tension. Will USD/JPY make a spectacular breakout or reverse course?