Forex Trading Library

USD/JPY – 06.06.2024

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The USDJPY corrected and tested the uptrend support line around the 154.50 zone, as seen on the chart.

Intraday levels show the first support around 155.70.

Prices managed to rebound as the market faced resistance around 156.50.

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

Below 154.50, more of a drop toward the 152.50 – 153.00 zone could hit the market.

 

SUPPORT RESISTANCE
LEVEL1 155.70 156.50
LEVEL2 154.50 158.00
LEVEL3 153.50 160.00

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