USD/JPY, H4 27 March 2024
The USD/JPY pair touched its weakest level against the U.S. dollar for the third time, nearing the 152.00 level, following Japan's first rate hike since 2007. The Japanese Yen has approached intervention levels last seen in 2022, prompting speculation of potential currency intervention by Japanese authorities. The Japanese Finance Minister indicated openness to considering measures to address the weakening yen, further contributing to market speculation regarding potential intervention.
The USD/JPY pair has formed a triple-top price pattern, if a break from current level suggests a solid bullish signal; a drop from current level would suggest a bearish signal. However, there is a divergence as the pair continue to surge
Resistance level: 151.85, 153.35📉
Support level: 149.50, 147.65📈
The USD/JPY pair touched its weakest level against the U.S. dollar for the third time, nearing the 152.00 level, following Japan's first rate hike since 2007. The Japanese Yen has approached intervention levels last seen in 2022, prompting speculation of potential currency intervention by Japanese authorities. The Japanese Finance Minister indicated openness to considering measures to address the weakening yen, further contributing to market speculation regarding potential intervention.
The USD/JPY pair has formed a triple-top price pattern, if a break from current level suggests a solid bullish signal; a drop from current level would suggest a bearish signal. However, there is a divergence as the pair continue to surge
Resistance level: 151.85, 153.35📉
Support level: 149.50, 147.65📈