USDJPY: Slight decrease, should we sell?
During the early hours of Wednesday's trading session, the USD/JPY pair delicately dipped below the pivotal psychological support level of 150.00, mirroring investors' cautious sentiment. This occurred as the US Dollar Index (DXY) further slid to 104.00, amplifying the downward pressure on the dollar.
A technical analysis reveals a slight downward trend for USD/JPY, currently fluctuating around 149.85. The outlook seems rather bleak for those betting on a decline, aiming next for the support zone at 149.18. This area is not just a defensive barrier but also where the 89 EMA comes into play, marking a significant hurdle for any potential recovery of the pair.
A technical analysis reveals a slight downward trend for USD/JPY, currently fluctuating around 149.85. The outlook seems rather bleak for those betting on a decline, aiming next for the support zone at 149.18. This area is not just a defensive barrier but also where the 89 EMA comes into play, marking a significant hurdle for any potential recovery of the pair.
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