Advertisements

USDJPY Price Exits the Bullish Channel – Forecast for Today, July 4, 2024

by Jennifer

USDJPY Price Analysis

Expected Scenario

Advertisements

The USDJPY price has settled below the broken support line of its bullish channel, indicating a correctional bearish scenario for the near future. The next target is set at 160.20, with a potential further decline towards 159.10 upon breaching the initial target.

Advertisements

Therefore, we anticipate further decline in the upcoming sessions. It will be crucial to monitor whether the price can breach the resistance at 161.65, as this could signal a potential reversal back to the main bullish track.

Expected Trading Range

Support: 160.50

Resistance: 162.00

Trend Forecast: Bearish

You May Also Like

blank

Bnher is a comprehensive futures portal. The main columns include futures market, futures exchanges, futures varieties, futures basic knowledge and other columns.

[Contact us: [email protected]]

© 2023 Copyright  bedgut.com – Futures Market, Investment, Trading & News