- USD/JPY is stuck between 129.80 and 131.66.
- The bears remain in control while the price is above the trend line.
Based on the above analysis, USD/JPY Price Analysis: bullish about to make his move with his sights set on the 61.8% retracementThe bulls made their move, but were met with a strong offer.
USD/JPY Prior Analysis
It was explained that the price was moving towards the lower support and that the bulls could commit near the 130.70 to retest the previous support.
USD/JPY Update
USD/JPY bulls found themselves with a 38.2% Fibonacci retracement before the offer appeared. at this juncture, there is little bias one way or the other.
On the hourly chart above, 129.80 and 131.66 are the extremes of the current range and there is a neutral/bearish bias between them.
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
