USD/JPY Price Analysis: (READ DESCRIPTION)
USD/JPY Price Analysis: Potential Short-Term Downside
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.
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.
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