USD/JPY continues downtrend to 147.00
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In general, there has been significant volatility in USDJPY during the last trading session as it slipped below the 145.50 level. It is currently trading at 147.05, after reaching a low of 146.53, marking a 0.67% decline for the day.
Considering the influencing factors: USD/JPY continues its losing streak as the Japanese Yen strengthens on bets placed on BoJ. The US dollar weakens due to expectations of an imminent interest rate cut by the Fed in June. Investors are eagerly awaiting the US NFP for new guidance.
Looking ahead for USDJPY prospects: On the daily chart, USD/JPY is currently receiving strong support around 145.95. Breaking below this level will lead to a significant price decline, while maintaining this level will result in price increase. It is expected that the price will continue to recover after the correction and retest the EMA 34,89 levels, although the overall trend remains bearish.
In general, there has been significant volatility in USDJPY during the last trading session as it slipped below the 145.50 level. It is currently trading at 147.05, after reaching a low of 146.53, marking a 0.67% decline for the day.
Considering the influencing factors: USD/JPY continues its losing streak as the Japanese Yen strengthens on bets placed on BoJ. The US dollar weakens due to expectations of an imminent interest rate cut by the Fed in June. Investors are eagerly awaiting the US NFP for new guidance.
Looking ahead for USDJPY prospects: On the daily chart, USD/JPY is currently receiving strong support around 145.95. Breaking below this level will lead to a significant price decline, while maintaining this level will result in price increase. It is expected that the price will continue to recover after the correction and retest the EMA 34,89 levels, although the overall trend remains bearish.
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