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.

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