USD/JPY: Risk of a deeper pullback is likely – Societe Generale
Source Fxstreet
USD/JPY recently formed a lower peak near 158.85 than the one achieved last year at 162, Societe Genrale’s FX experts note.
USD/JPY can fall down to 154.30/153.75 and below
“Daily MACD has been posting negative divergence highlighting receding upward momentum. The pair is now challenging the confluence of the 50-DMA and a multi-month ascending trend line. It will be interesting to see if the pair attempts a rebound from this MA. Failure to overcome the high achieved earlier this week near 156.75 could denote risk of a deeper pullback.”
“Next potential supports could be located at 154.30/153.75, the 50% retracement from December and 152.80.”
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
The U.S. dollar is facing its most aggressive sell-off in nearly four years, with the Bloomberg Dollar Spot Index dropping Tuesday to its lowest level since March 2022.Despite this, Presi
Ethereum Is Already 20% Prepared for the Quantum Era, Says InterviewEthereum's drive for post-quantum security is advancing with strategic upgrades in execution, consensus, and data layers. The initiative is backed by the Ethereum Foundation's dedicated team. Ethereum aims to safeguard against future quantum threats well before they materialize.
Ethereum's drive for post-quantum security is advancing with strategic upgrades in execution, consensus, and data layers. The initiative is backed by the Ethereum Foundation's dedicated team. Ethereum aims to safeguard against future quantum threats well before they materialize.
Top 3 Price Outlook: BTC Holds Above $89,000 as ETH Tests Resistance and XRP Stabilizes Near $1.90BTC trades near $89,300 after reclaiming $87,787 support and eyes $90,000, while ETH tests $3,017 and the $3,101 50-day EMA and XRP rebounds to $1.90 from $1.83 with $1.96 resistance and $1.77 downside risk.
BTC trades near $89,300 after reclaiming $87,787 support and eyes $90,000, while ETH tests $3,017 and the $3,101 50-day EMA and XRP rebounds to $1.90 from $1.83 with $1.96 resistance and $1.77 downside risk.
EUR/USD weakens below 1.2000 amid rebound in US Dollar, all eyes on Fed rate decision The EUR/USD pair attracts some sellers to near 1.1990, snapping the four-day winning streak during the early European session on Wednesday. The major pair retraces from a five-year high amid renewed US Dollar (USD) demand.
The EUR/USD pair attracts some sellers to near 1.1990, snapping the four-day winning streak during the early European session on Wednesday. The major pair retraces from a five-year high amid renewed US Dollar (USD) demand.
Standard Chartered has warned that banks in the U.S. may lose up to $500 billion to stablecoins by 2028.
Related Instrument
