Forex analytics and overview
USD/JPY at Risk of Breaking Down: What This Means for Forex Traders
2024.11.22 10:32
The pair has lost its upward momentum and appears poised to break below the ascending channel that has supported its rise since September.
A key support level to watch is 151.50, which could serve as the first line of defense in the event of a downside break.
It’s important to exercise caution when holding long positions at current levels, as the risk of another Bank of Japan (BoJ) intervention looms large.
