USDJPY (H4) Will fall to 148 or increase to 152 ?
USDJPY
USDJPY (H4) Will fall to 148 or increase to 152 ? The USDJPY market on the H4 timeframe exhibits the following characteristics:
- The ongoing contraction phase suggests a period of hesitation and gradual consolidation before significant fluctuations occur.
- The peaks depict a pattern of lower-high prices, indicating a potential weakening of buying power.
- Simultaneously, the lower end establishes a loosely defined price support region, with cand
lesticks extending below the support area.
Consequently, there is a likelihood that this pair might decline towards the price support zone at 148.6-148.8. However, given the absence of a clear directional break in the price pattern, there remains a possibility that the exchange rate could continue to rise towards the resistance area of 150-152.
It is advised to monitor the market closely. Despite the absence of significant news today with a strong impact on these currencies, unforeseen market movements can still pose risks to your account. Please adhere to trading principles and implement capital management strategies diligently.
