Pivot Point: 150.30 This level acts as a critical resistance, influencing potential bearish movements.
Market Outlook
Our Preference:
Bearish Scenario: Short positions are recommended below 150.30, with downside targets likely. Target Levels: Target 1: 149.50 Target 2: 149.20 These are the immediate downside objectives for traders holding short positions, should the price remain under the pivot.
Alternative Scenario If USD/JPY breaks above 150.30:
Bullish Outlook: Further upside could be expected. Target Levels: Target 1: 150.50 Target 2: 150.75 This suggests potential for upward momentum if the price surpasses the pivot.
Technical Indicators RSI (Relative Strength Index): Indicates caution, as failure to surpass 150.30 could accelerate selling pressure.