The USD/JPY chart shows a bullish trend, influenced by its position above an ascending trend line. There’s potential for a short-term decline to the 1st support at 147.54 before rebounding towards the 1st resistance at 148.46. This 1st support is an important overlap support, and the 2nd support at 146.56 also holds significance. On the resistance side, the 1st resistance at 148.46 aligns with the 127.20% Fibonacci Extension, while the 2nd resistance at 149.17 aligns with the 161.80% Fibonacci Extension, highlighting their key roles..
The material has been provided by InstaForex Company – www.instaforex.com
The USD/JPY chart shows a bullish trend, influenced by its position above an ascending trend line. There’s potential for a short-term decline to the 1st support at 147.54 before rebounding towards the 1st resistance at 148.46. This 1st support is an important overlap support, and the 2nd support at 146.56 also holds significance. On the resistance side, the 1st resistance at 148.46 aligns with the 127.20% Fibonacci Extension, while the 2nd resistance at 149.17 aligns with the 161.80% Fibonacci Extension, highlighting their key roles..
The material has been provided by InstaForex Company – www.instaforex.com
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