USD/JPY technical analysis

Note: This section contains information in English only.
Source: Dukascopy Bank SA
USD/JPY 4-hour chart shows a very clear and dominant bullish (upward) trend. This strong upward momentum is confirmed by the price trading significantly above the 100-period Simple Moving Average (the red line), which is a key long-term trend indicator on this timeframe. Currently, the market is in a short-term pullback or correction. This was triggered after the price hit a strong resistance ceiling near the 155.000 level and failed to break through. As a sign of this pullback, the price has crossed below the shorter-term 24-period SMA, which is now acting as an immediate resistance.



This pullback is now approaching a critical support zone. The first level of support is the horizontal line at 152.88. Just below that is the more significant 100-period SMA around 152.400. This red line is the "line in the sand" for the current trend. Therefore, the market is at a decision point. If buyers step in and the price bounces strongly from this 152.400–152.88 area, it would signal the correction is over and the uptrend is likely to resume, targeting the 155.000 high again.

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