USDJPY: Looking for fresh support above 147.00
Hello, my amazing friends!
Recently, USDJPY has been struggling to maintain its upward momentum towards the target of 151.00. Its upward movement has been hindered by various factors, including speculation that the Japanese government will intervene to prevent any further weakening of the JPY, which could limit the upside.
In the short term, the 4-hour chart indicates a potential downside correction, with an expected retreat to the support level at 147.70, although it also shows that the upward trend of USDJPY is still intact.
Recently, USDJPY has been struggling to maintain its upward momentum towards the target of 151.00. Its upward movement has been hindered by various factors, including speculation that the Japanese government will intervene to prevent any further weakening of the JPY, which could limit the upside.
In the short term, the 4-hour chart indicates a potential downside correction, with an expected retreat to the support level at 147.70, although it also shows that the upward trend of USDJPY is still intact.
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