USDJPY: A critical test for the yen

USDJPY, Daily

The Japanese yen tested the resistance level at 149.76 and the trending downward level.

If the asset breaks this level and consolidates above it, the growth will continue to 151.31.
However, if the price fails to break through this level and consolidates below the support level at 148.95, it will resume its decline to 147.10.

Trading foreign currencies on margin involves significant risks and may not be suitable for everyone, as high leverage can increase both potential gains and losses. Before entering the foreign exchange market, it is essential to evaluate your investment goals, personal experience, and risk tolerance.

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Author: FBS Analyst Team

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