USD/JPY Technical analysis

Source: Dukascopy Bank SA
The FX pair has been moving toward the key resistance level at 146.00, while trading in a sideways range between 142.300 and 146.00. This range shows that the market is in a phase of indecision, with buyers and sellers evenly matched. However, the pair's repeated tests of the 146.00 level suggest that buying pressure is building.



If the price breaks above 146.00, it would likely trigger a stronger upward move, with the next target around 149.00. This breakout could be driven by increased buying interest or changes in market fundamentals like interest rates or economic data. On the other hand, if the pair fails to break 146.00, it may drop back toward 142.300, keeping the sideways pattern intact. For now, 146.00 is the key level to watch for any clear direction.

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