USDJPY 2/10/2024
USDJPY continues to display a robust bullish trend, with its price action showing resilience and maintaining upward momentum. This strength is further evidenced by the RSI trending upwards on the weekly chart, currently at 62.23, indicating increasing buying pressure. Additionally, the MACD indicator on the weekly chart remains above its midline, with the last small red bar suggesting a potential crossover to green in the upcoming week, signaling continued bullish sentiment. However, caution is warranted due to speculation surrounding the Bank of Japan's potential rate hike around the $150 mark. Despite this uncertainty, there is potential for USDJPY to surpass its previous two-year high, surpassing the October 2022 peak of 151.946.
A closer look at the daily chart further confirms the bullish bias, with the MACD showing larger green bars, indicative of strengthening upward momentum. The RSI on the daily chart is currently at 65.29, adding further support to the bullish outlook.
However, there are potential concerns regarding the divergence observed in a multi-pair analysis. Notably, EURUSD, NZDUSD, and AUDUSD are moving upwards alongside the dollar, contrary to their typical inverse correlation. This divergence suggests a potential reversal in either USDJPY or these pairs, warranting careful observation and risk management
A closer look at the daily chart further confirms the bullish bias, with the MACD showing larger green bars, indicative of strengthening upward momentum. The RSI on the daily chart is currently at 65.29, adding further support to the bullish outlook.
However, there are potential concerns regarding the divergence observed in a multi-pair analysis. Notably, EURUSD, NZDUSD, and AUDUSD are moving upwards alongside the dollar, contrary to their typical inverse correlation. This divergence suggests a potential reversal in either USDJPY or these pairs, warranting careful observation and risk management
discord.gg/a7sfTVkgxc
I’m part of a free Discord group where we help each other navigate the market and overcome trading challenges. It’s a friendly, supportive community, with members from around the globe.
I’m part of a free Discord group where we help each other navigate the market and overcome trading challenges. It’s a friendly, supportive community, with members from around the globe.
Wyłączenie odpowiedzialności
Informacje i publikacje przygotowane przez TradingView lub jego użytkowników, prezentowane na tej stronie, nie stanowią rekomendacji ani porad handlowych, inwestycyjnych i finansowych i nie powinny być w ten sposób traktowane ani wykorzystywane. Więcej informacji na ten temat znajdziesz w naszym Regulaminie.