USDJPY Technical Analysis: The USD/JPY pair is currently in an uptrend but is showing signs of bearish momentum in the short term. As of the latest trading session, the pair is priced around 144.41, which places it below several key moving average crossovers. This positioning suggests weakening bullish pressure and the potential for a downward correction.
Looking at the technical indicators, the MACD (Moving Average Convergence Divergence) shows a bearish crossover, with the signal line moving above the MACD line. This indicates that selling momentum may be building up, providing a possible short-term opportunity for traders looking to capitalize on a pullback.
Given the current market setup, traders could consider entering short positions around the current price levels, aiming for an initial downside target of $143.90. If bearish pressure continues, the next support level to watch would be around $143.32, where buyers may look to step in again.
To manage risk effectively, it’s advisable to place a stop-loss order near the $145.10 level. This price point lies above recent highs and provides a cushion in case of an unexpected bullish reversal.
While the broader trend remains upward, short-term technical indicators and chart patterns suggest that a temporary decline may be on the horizon. Traders should closely monitor price action and confirm signals before entering positions. As always, combining technical analysis with sound risk management will be key to navigating this setup successfully.
USDJPY Technical Analysis: On the Other Hand
On the other hand, if the $145.10 buy zone is broken, the USD/JPY price may head towards $145.52.
USDJPY Technical Analysis: Resistance and Support Levels
- Second Resistance: 144.85
- First Resistance: 144.69
- Pivot Level: 144.38
- First Support: 144.22
- Second Support: 143.91
