USD/JPY: Limited Recovery Amidst Mixed Data Signals
USD/JPY: Limited Recovery Amidst Mixed Data Signals
The US Dollar experiences a modest recovery against the Yen on Thursday, with data from both countries yielding few surprises. Japanese data comes in mixed on the day, setting the stage for potential market movements. Friday's agenda includes key events such as the Japanese Unemployment Rate and the US ISM Manufacturing PMI.
Technical Analysis:
The USD/JPY pair forms an AB=CD pattern, with the reversal area tested from the price. Following a bullish impulse, the pair is currently within a range, forming a Triangle pattern. Our analysis points towards a bullish continuation.
Stay tuned for further updates as the market navigates through upcoming economic indicators.
Our preference
Long positions with targets at 148.750 & 149.50 in extension.
The US Dollar experiences a modest recovery against the Yen on Thursday, with data from both countries yielding few surprises. Japanese data comes in mixed on the day, setting the stage for potential market movements. Friday's agenda includes key events such as the Japanese Unemployment Rate and the US ISM Manufacturing PMI.
Technical Analysis:
The USD/JPY pair forms an AB=CD pattern, with the reversal area tested from the price. Following a bullish impulse, the pair is currently within a range, forming a Triangle pattern. Our analysis points towards a bullish continuation.
Stay tuned for further updates as the market navigates through upcoming economic indicators.
Our preference
Long positions with targets at 148.750 & 149.50 in extension.
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