USD/JPY: Low achieved last month at 146.50/145.80 is first support – Societe Generale
Source Fxstreet
USD/JPY rebound petered out at the 200-DMA near 151.30/151.60 last month, Societe Generale's FX analysts report.
Next potential objectives can be located at of 145 and 143.70
"It broke the short-term ascending channel confirming resumption of decline. Low achieved last month at 146.50/145.80 is first support. A brief bounce can’t be ruled out. However, if the pair fails to overcome recent pivot high of 150.50, the phase of correction could extend. Below 146.50/145.80, next potential objectives could be located at projections of 145 and 143.70."
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
BNB is up 4.4% in the past 24 hours, standing out as the only top-10 coin to post positive 30-day gains (+11%). The move follows Trump’s pardon of former Binance CEO Changpeng “CZ” Zhao.
Crude prices’ pullback from two-week highs at $62.00 witnessed on Thursday remains contained above $61.00 so far, with the commodity on track to its sharpest weekly rally in four months.
Gold price (XAU/USD) edges lower below $4,150 during the Asian trading hours on Friday, pressured by the rebound in the US Dollar (USD).
The United States (US) Bureau of Labor Statistics (BLS) will publish the all-important Consumer Price Index (CPI) data for September on Friday at 12:30 GMT.
West Texas Intermediate (WTI) Oil price depreciates after three days of gains, trading around $61.00 per barrel during the Asian hours on Friday.
Related Instrument
