3 min readDOLLAR VS JAPANESE YEN (USD/JPY):
USDJPY has made a significant move over the past few weeks, finally retracing to the “discount” region on the Fibonacci tool, around the 50% level. With the price now rebalanced, it will be interesting to see if it continues to decline from this point, especially as it aligns with the key psychological level of approximately 150.000.
Looking closely at the technicals below, we can see an internal ascending trend line currently holding as support. If this level breaks, I’ll be watching the price closely to see how it reacts at lower support zones. The first key area to monitor is around 147.000, where previous resistance has turned into support. Additionally, the RSI indicator isn’t yet showing any signs that this move is overbought.
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