Golden-Fund-Forex

USDJPY Analysis on H1 29/8/2023

Short
FX:USDJPY   U.S. Dollar / Japanese Yen
-USDJPY is currently approaching a fairly strong resistance zone around the range of 146.5xx - 146.7xx.

-Should selling pressure materialize within this zone, especially in conjunction with bearish news, it would favor a decline in price. There's a significant possibility of a pronounced drop towards the levels of 145.600 - 145.202.

-However, if following the release of the US session today, the price manages to break above the 146.700 mark, this could provide an opportunity for buying.
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