Manage your risk with USD/JPY
The EUR/USD currency pair is one of the most actively traded pairs in the forex market, and it has been experiencing some interesting price movements recently. The pair has been on a bullish trend, with prices hitting multi-year highs. However, the recent dollar strength has caused some retracement in the pair. In contrast, USD/JPY has been on a bearish trend, but recent price action suggests a potential reversal.
• Chart time-zone is UTC (+03:00)
• Candles’ time-frame is 4h.
USD/JPY is a major currency pair that has been on a bearish trend for some time now. However, recent price action has seen the pair break above its bearish trend line, which could potentially signal a shift towards a bullish phase. Traders and investors should pay attention to the potential retest of the bearish trend line, which could act as a resistance level. If the pair successfully breaks above this level, it could confirm the start of a new bullish phase, with potential targets being the 110.00 level and beyond. However, caution is advised as market volatility and economic events could impact the pair’s price movements, and it is important to monitor the pair closely to identify potential trading opportunities while managing risk effectively.
• DISCLAIMER: Please note that the above analysis is not an investment suggestion by “Capitalcore Ltd”. This post has been published only for educational purposes.