USDJPY is caught range-bound in a tight range between 151.95 and
USDJPY is caught range-bound in a tight range between 151.95 and 150.84. A daily close above or below these levels is necessary to indicate the next direction.
A close above 151.95 suggests short-term upside potential to the 1.618 projection at 153.60. Conversely, a close below 150.84 indicates that a correction down to support at around 149.20 is quite likely, potentially extending down to the 0.618 retracement at 148.58.
While the RSI is indecisive, this strength indicator is showing positive sentiment, indicating potential for higher USDJPY values. However, RSI is also exhibiting divergence—RSI values are declining while USDJPY have moved higher—suggesting that the bullish push to test 151.95 could be nearing exhaustion, and a correction may be unfolding shortly
A close above 151.95 suggests short-term upside potential to the 1.618 projection at 153.60. Conversely, a close below 150.84 indicates that a correction down to support at around 149.20 is quite likely, potentially extending down to the 0.618 retracement at 148.58.
While the RSI is indecisive, this strength indicator is showing positive sentiment, indicating potential for higher USDJPY values. However, RSI is also exhibiting divergence—RSI values are declining while USDJPY have moved higher—suggesting that the bullish push to test 151.95 could be nearing exhaustion, and a correction may be unfolding shortly