The medium-term downtrend phase of USD/JPY in place since the 15 November 2023 high has reached a potential inflection level at 140.25.
A potential countertrend corrective rebound scenario may unfold next.
Watch the first immediate resistance zone at 142.85/143.40.
This is a follow-up analysis of our prior report, “USD/JPY Technical: JPY strength remains intact ahead of BoJ” published on 19 December 2023. Click here for a recap.
The price actions of USD/JPY have plummeted lower as highlighted
02-01-2024 05:19 GMT
by Kelvin Wong