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ForexWizard01
Nov 1, 2023 8:33 AM

USDJPY possible buy area! Long

U.S. Dollar/Japanese YenFXCM

Description

Examining the technical analysis of USDJPY on the daily chart, we observe a recent rejection at the upper boundary of an uptrend channel. As a result, there is a reasonable expectation that USDJPY could experience a pullback, potentially finding support at around 150.36 or even within the ascending channel at 149.50. It's conceivable that this correction may pave the way for an upward move, possibly targeting 152.50 in the near future. What are your insights on this analysis? Do you share a similar perspective?
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