USDJPY → False break of support, Yen weakens. 160.0 again?

2024年6月5日

USDJPY fell under the correction wave, which was caused by the liquidation of buyers based on the change in the fundamental sentiment of the dollar index. It didn't last long.


Buyers liquidation on the back of strong bullish trend. (A big player collects the position)

In general, both technically and fundamentally, the situation remains unfavorable for the Japanese yen. The national currency may continue to weaken and thus test the current ATH.
False breakdown of trend support brings the price back to the range of 155.95-157.23. Possible retest of resistance with the subsequent breakout and growth to the far liquidity zones.

Resistance levels: 157.23, 158.44
Support levels: 155.95, 154.77

The bulls should hold the defense above 155.95 with the aim to continue rising. The intermediate key point is 157.23 with the possibility of further breakout and growth.

Regards R. Linda!

2024年6月5日

註釋

Consolidation above the key support is forming.
Closing of the session will determine the short- and medium-term potential for traders

2024年6月7日

交易結束：目標達成

Target 1 reached

2024年6月10日

註釋

A break of 157.235 will continue the momentum

2024年6月10日

註釋

Pre-breakout consolidation is forming
Possible breakout of 157.23

2024年6月11日

交易進行

Resistance retest with a breakout target

2024年6月11日

註釋

A breakthrough is forming

2024年6月16日

交易進行

Consolidation is forming above 157.23.
If the bulls hold this area, further 158-160

2024年6月17日

交易進行

Breakout of key resistance.
the first target will be reached soon

2024年6月19日

交易進行

The resistance at 158.44 has been tested. We are waiting for a breakthrough and further growth

2024年6月20日

交易結束：目標達成

Target 2 reached

2024年6月21日

交易進行

After breaking through resistance, the currency pair is actively going upwards on the background of a weak yen

2024年6月24日

交易進行

There's not much left to the goal...
We continue to hold

2024年6月26日

交易結束：目標達成

160.21 reached!