USD/JPY: Approaching $146.946, Breakout or Correction?
USD/JPY is currently hovering around $146.864, with buying pressure building as the price approaches a key resistance zone. The resistance lies between $146.946, and if the price breaks through this level, a strong upward momentum could follow, presenting a buying opportunity for investors.
However, if the resistance holds, a potential correction may occur, pushing the price back to test lower support levels, including Support 1 at $144.792 and Support 2 at $143.991. These support zones are crucial to maintaining the pair’s upward momentum.
The EMA 34 ($144.792) and EMA 89 ($143.991) are providing strong support for the current uptrend, bolstering investor optimism.
However, if the resistance holds, a potential correction may occur, pushing the price back to test lower support levels, including Support 1 at $144.792 and Support 2 at $143.991. These support zones are crucial to maintaining the pair’s upward momentum.
The EMA 34 ($144.792) and EMA 89 ($143.991) are providing strong support for the current uptrend, bolstering investor optimism.
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