The USDJPY price crawls upwards – Forecast today - 11-06-2024

Economies.com
2024-06-11 04:01AM UTC

USDJPY Price Analysis

Expected Scenario

  • The USDJPY price shows positive trades to gradually approach the 157.70 level, and as we mentioned yesterday, the price needs to breach this level to reinforce the expectations of continuing the rise and open the way to achieve our positive targets that start at 158.40 and extend to 160.20.
  • Note that the positive scenario depends on the completion of the double bottom pattern that its signs appear on the chart, supported by the EMA50 that carries the price from below, noting that the continuation of the bullish wave requires holding above 156.50.

Expected Trading Range

Between 156.50 support and 158.20 resistance.

Trend Forecast: Bullish

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