USDJPY Rebounds, Potential For Upside Move In Long-Term -

USDJPY Rebounds, Potential For Upside Move In Long-Term

Jan 09, 2024Jeremy ParkinsonFinance, No picture0

Image Source: UnsplashUSDJPY has rebounded from the support level at 140.25, with the falling trend line on the weekly chart providing additional support. This suggests that the pullback from 151.90 has completed, indicating a potential for another rise in the coming weeks.If the price continues to rise, it could aim for the previous high at 151.94. However, a breakout above the 146.00 resistance level would be needed to confirm this bullish case.On the downside, the support level is located at 144.25. A breakdown below this level could trigger a further downside move towards the next support level at 137.23.More By This Author:USDJPY Analysis – Friday, Jan. 5GBPUSD Analysis – Thursday, Jan. 4EURUSD Analysis – Thursday, Jan. 4