The USDJPY price continues to rise – Forecast today - 07-05-2024
Economies.com
2024-05-07 03:50AM UTC
USDJPY Price Analysis
The USDJPY price shows more bullish bias, approaching our waited target at 155.50, reinforcing the expectations of continuing the bullish trend within the bullish channel that appears on the chart, noting that breaching the mentioned level will extend the bullish wave to reach 157.00 areas as a next positive station.
RSI continues to provide the positive signals that support the chances of continuing the rise, which will remain valid unless breaking 152.60 and holding below it.
Expected Trading Range for Today
- Support: 153.70
- Resistance: 155.50
Trend Forecast
Bullish
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