Forex analytics and overview
USD/JPY Hits Key Resistance as Short-Term Yields Signal Potential Moves
2024.09.24 12:01
The has reached the first resistance area which is the confluence of the S/T descending channel’s T/L resistance and 23.6% Fib of the move lower from the multi-year highs to the 139.57 low at 144.85.
A rejection from here keeps the pair in bearish mode while a break higher opens more upside with the next target being the 38.2% Fib at 148.13. Short-term US Yields will be the deciding factor most likely, so keep your eyes on them.
