USD/JPY Outlook: Key Supports Under Pressure

Oil is correcting 0.2% on Monday after closing almost 2% higher on Friday and peaking at 3.4%. WTI’s high of $80.3, last seen in November 2023, and a consolidation above $79 would indicate a break of long-term horizontal resistance, something the bulls have failed to do over the past four months. Friday’s rally allowed a […]

EURJPY reversed from support level 165.00 Likely to rise to resistance level 168.00 EURJPY currency pair recently reversed up from the pivotal support level 165.00 (former strong resistance from March and April, which also stopped the previous correction 2 at the start of May). The support level 165.00 was strengthened by the 50% Fibonacci correction […]

The USD/JPY chart shows the rate has fallen below its 5 August low. This decline was influenced by comments from Bank of Japan representative Junko Nakagawa, who stated that the bank would continue raising interest rates if inflation keeps decreasing. “Given that real interest rates are currently very low, we will adjust the level of […]