USD/JPY pulls back from 150 resistance – Société Générale
Source Fxstreet
USD/JPY failed to hold above 150 and slipped below its 200-day moving average, with focus now shifting to support at 146.20/145.40. A break lower could open the door to further downside, Société Générale's FX analysts note.
USD/JPY slips below 200-DMA
"USD/JPY recently encountered strong resistance near 150 and has dipped below the 200-day moving average, indicating a lack of sustained upward momentum. It is now gradually approaching a multi-month ascending trend line in the 146.20/145.40, which serves as short-term support."
"Failure to overcome recent peak at 150 may signal a continued pullback. If the pair is unable to defend 145.40, there could be a risk of another down leg."
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
US Bitcoin spot exchange-traded funds (ETFs) have seen more inflows this year so far compared to the same point in 2024, according to data.
The United States (US) Bureau of Labor Statistics (BLS) will release the critical Nonfarm Payrolls (NFP) data for August on Friday at 12:30 GMT.
The Gold price (XAU/USD) gains momentum to near $3,645 during the early Asian session on Thursday.
Gold (XAU/USD) continues scaling new record highs during the Asian session on Tuesday and climbs beyond the $3,250 level amid a supportive fundamental backdrop.
With broader sentiment worsening, user demand falling across the Ethereum network, and institutional investors pulling back, the coin faces mounting headwinds in October.
Related Instrument
