USDJPY → Full readiness to drop to 138.0 - 136.0

11 sept. 2024

USDJPY breaks support at 141.68 and hits lows. The dollar is declining after the US election debate, but is still in consolidation ahead of CPI. The currency pair may continue to fall



Ahead of CPI, traders expect consumer inflation to fall to 2.5 for the year. This indicator will determine the interest rate cut next week, and more precisely by how much they will cut the interest rates, by 25 or 50 basis points.
Technically, everything is inclined to the further decrease of the dollar, which will be reflected on the currency pair. But, we should expect high volatility, within the framework of which, if the bears do not hold 141.68, the price may test 142.2 - 142.8 before further falling to 138 - 136.

Support levels: 140.75, 140.25
Resistance levels: 141.68, 142.2, 142.8

Global and local trends are under bearish pressure. Important news is ahead, which may strengthen the fall, or temporarily squeeze the price in the range. Consolidation of the price below 141.68 will be a good sign for the continuation of the fall

Rate, share your opinion and questions, let's discuss what's going on with ★ USDJPY ;)

Regards R. Linda!

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