USD/JPY fails at key resistance – Société Générale
Source Fxstreet
USD/JPY struggles to sustain upward momentum, with a failure at key resistance and risks building for a deeper pullback toward 140 and below, Société Générale's FX analysts note.
Downtrend may extend
"USD/JPY up move has so far remained short of the hurdle of 146.50 representing March low and the 50-DMA. It has breached the channel that encompassed recent bounce denoting a lack of steady upward momentum."
"Recent pivot low of 142 is next important support. In case the pair fails to defend it, the phase of downtrend may extend. Next objectives could be located at 140/139.50 and projection of 136.50."
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
Ethereum price started a downside correction below the $1,850 zone. ETH is now consolidating and might drop further below the $1,785 support zone.
Solana started a fresh decline from the $155 zone. SOL price is now consolidating near $145 and might extend losses below the $142 support.
Ethereum (ETH) has declined for five consecutive months. However, it enters May with rising optimism.
With the Federal Open Market Committee set to announce its May 7 policy decision, Bitcoin traders face a macro‑driven inflection point that could define price action into the summer.
Ethereum price started a downside correction and tested the $1,750 zone. ETH is now rising and attempting a move above the $1,850 resistance.
Related Instrument
