Forex Trading Library

USD/JPY – 04.12.2024

Technical Analysis
By Rami Abu-Draa
USD/JPY – 04.12.2024
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USDJPY managed to hit below 149.00 again while prices managed to obtain a daily close above the support of 149.00.

As we see over the chart, the market is still giving rebound signals with resistance at 151.90.

A daily close below 149.00 could push for a further drop towards the 147.35 zone.

SUPPORT RESISTANCE
LEVEL1 149.00 150.45
LEVEL2 147.35 151.90
LEVEL3 145.90 153.25

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Rami Abu-Draa

Head of Technical Analysis at Orbex, Rami Abu Draa
holds a bachelor's degree in Banking, Finance and Economics. A professional trader and mentor with over 10 years of industry experience, Rami is passionate about sharing his knowledge with Orbex clients from basic to advanced concepts of Technical Analysis, Investment psychology and Investment/Trading methodologies. He is able to combine fundamental and technical principles to deliver a unique perspective on the markets that enables Orbex traders to identify high-probability trading opportunities.

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