Forex Trading Library

USD/JPY – 05.06.2024

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USDJPY dropped as prices managed to test the uptrend support line around the 154.50 zone, as seen on the chart.

Intraday levels show the first support around 155.80, as the market managed to hit some rebound, with fresh resistance at 156.50.

If prices hold above 154.50, the advance wave could move toward the 158.00 and 160.00 levels.

Below 154.50, more of a drop toward the 152.50 – 153.00 zone is expected.

LEVEL1 155.80-90 156.50
LEVEL2 154.50 158.00
LEVEL3 153.50 160.00

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