Economic Calendar
No significant fundamental news is expected this trading week.
USD/JPY hourly chart analysis
USD/JPY hourly chart displays a major trend reversal, where a sharp sell-off from the 150.800 peak has established a new bearish environment. Following this drop, the price found support near 147.100 and has entered a phase of consolidation and weak recovery.This bearish outlook is strongly confirmed by the price trading well below all key moving averages, as well as a death cross formation where the short-term average has moved below the long-term one. Currently, this recovery is being capped by significant resistance from the 200-period moving average around the 148.135 level.
Hourly Chart
USD/JPY daily candle chart analysis
The USD/JPY daily chart presents a conflicting picture, where a bullish long-term structure is being challenged by a very strong rejection from a major resistance level. The underlying trend remains bullish, evidenced by a recent "golden cross" of the moving averages and the price holding above all three key SMAs.
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Traders sentiment mixed
Further continuation of previous week, trader sentiment remains balanced, with both long and short positions accounting for 50%. There's no clear directional bias in USD/JPY at this time.