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
US and Iran signal ceasefire talks; Bitcoin breaks $68,000, expected to continue rebounding in the short term.On April 1, Bitcoin ( BTC) prices continued to rebound, strengthening further
Today’s Market Recap: US and Iran Signal Willingness to End Conflict, Three Major US Stock Indexes Surge, Dollar Ends Five-Day Winning StreakAs the U.S. and Iran signaled a de-escalation of their conflict, market risk appetite recovered significantly, with the three major U.S. stock indices rebounding sharply to record their l
As the U.S. and Iran signaled a de-escalation of their conflict, market risk appetite recovered significantly, with the three major U.S. stock indices rebounding sharply to record their l
Societe Generale’s commodities team has revised its Oil outlook, warning Brent could spike towards $150/bbl in a higher‑for‑longer scenario if the Strait of Hormuz is shut for two months.
AUD/USD halts its five-day losing streak, trading around 0.6860 during the Asian hours on Tuesday. The pair advances as the Australian Dollar (AUD) receives support after the Reserve Bank of Australia released its March Meeting Minutes.
As of March 30, the US Dollar against the Japanese Yen ( USDJPY) continues to fluctuate at high levels near the 160 mark, with the Yen having fallen to a nearly one-year low. Expectations
Related Instrument
