USD/JPY: The Battle Between Resistance and Support
USD/JPY is "battling" around the 143.695 level, with a significant "challenge" at 144.435 and a key "support" at 142.053.
The EMA 34 and EMA 89 are acting as "shields" for the current trend. The RSI indicator at 58.71 suggests a balanced market, but a major move could be on the horizon.
If the resistance at 144.435 isn't broken, USD/JPY could reverse and pull back towards 142.053.
In terms of news: The Japanese Yen has depreciated, possibly due to weak trading conditions during Monday's holiday. BoJ Governor Ueda stated that the central bank will continue adjusting the degree of monetary easing as needed.
The EMA 34 and EMA 89 are acting as "shields" for the current trend. The RSI indicator at 58.71 suggests a balanced market, but a major move could be on the horizon.
If the resistance at 144.435 isn't broken, USD/JPY could reverse and pull back towards 142.053.
In terms of news: The Japanese Yen has depreciated, possibly due to weak trading conditions during Monday's holiday. BoJ Governor Ueda stated that the central bank will continue adjusting the degree of monetary easing as needed.
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