Today, the USD/JPY pair is consolidating around the key psychological level of 152.00, showing readiness to break above it — a scenario that favors the bulls.
In addition, positive oscillators on the daily chart indicate the pair's potential for further strengthening. A sustained move beyond this level would open the way toward the next round level of 153.00, with some resistance expected around 152.25 and 152.70.
On the other hand, the 150.70–150.30 level serves as strong support before the psychological level of 150.00. A break below this area would likely lead the pair toward the next round level of 149.00, with an interim stop around 149.40, before eventually dropping to the strong horizontal zone near the round level of 148.00 — where the 200-day SMA is located. After that, it would be difficult for the pair to regain a positive bias.
The material has been provided by InstaForex Company - www.instaforex.com
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Today, the USD/JPY pair is consolidating around the key psychological level of 152.00, showing readiness to break above it — a scenario that favors the bulls.
In addition, positive oscillators on the daily chart indicate the pair's potential for further strengthening. A sustained move beyond this level would open the way toward the next round level of 153.00, with some resistance expected around 152.25 and 152.70.
On the other hand, the 150.70–150.30 level serves as strong support before the psychological level of 150.00. A break below this area would likely lead the pair toward the next round level of 149.00, with an interim stop around 149.40, before eventually dropping to the strong horizontal zone near the round level of 148.00 — where the 200-day SMA is located. After that, it would be difficult for the pair to regain a positive bias.
The material has been provided by InstaForex Company - www.instaforex.com