USDJPY Ready for Another Bullish Move
USDJPY is once again showing signs of a potential upward move.
After last week’s NFP report, the USD saw a strong sell-off, but the price found support around 146.70, as shown on the chart.
Since the NFP numbers came in lower than expected, the market is now pricing in a possible rate cut from the Fed in September.
The support zone near 146.70 has held three times, which increases the chances of a bullish bounce from this level.
If the price breaks clearly out of the current consolidation, USDJPY could rise toward 148.60, and possibly even 149.50.
You may find more details in the chart!
Thank you and Good Luck!
PS: Please support with a like or comment if you find this analysis useful for your trading day
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
USDJPY is once again showing signs of a potential upward move.
After last week’s NFP report, the USD saw a strong sell-off, but the price found support around 146.70, as shown on the chart.
Since the NFP numbers came in lower than expected, the market is now pricing in a possible rate cut from the Fed in September.
The support zone near 146.70 has held three times, which increases the chances of a bullish bounce from this level.
If the price breaks clearly out of the current consolidation, USDJPY could rise toward 148.60, and possibly even 149.50.
You may find more details in the chart!
Thank you and Good Luck!
PS: Please support with a like or comment if you find this analysis useful for your trading day
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
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✅MY Free Signals
t.me/TradingPuzzles
✅Personal Telegram
t.me/KlejdiCuni
✅YouTube
youtube.com/@TradingPuzzles
✅MY Recommended Broker is TRADE NATION
🔸bit.ly/49VySJF
t.me/TradingPuzzles
✅Personal Telegram
t.me/KlejdiCuni
✅YouTube
youtube.com/@TradingPuzzles
✅MY Recommended Broker is TRADE NATION
🔸bit.ly/49VySJF
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.