As we dive into the latest movements of the USD/JPY currency pair, it feels a bit like watching a thrilling game of chess unfold on the financial board. Will the U.S. dollar continue its wobbly descent, or is it gearing up for a comeback? Recent trends suggest that after a spell of resilience, the dollar might be eyeing a return to its downward trajectory. If you’re keen on navigating this volatile landscape, I invite you to ponder this: could the USD/JPY be on the brink of another dip in the coming sessions? In this piece, we’ll shine a light on the resistance levels that are shaping our outlook on the USD/JPY’s 4-hour chart, helping you strategize your next moves in this ever-evolving market! LEARN MORE.USD/JPY looks ready to extend a longer-term downtrend after days of strength!
Think USD/JPY could turn lower in the next trading sessions?
Here’s the resistance area we’re watching on USD/JPY’s 4-hour chart!
USD/JPY 4-hour Forex Chart by TradingView
The U.S. dollar has been sliding against the Japanese yen all year, weighed down by shaky U.S. economic data, trade war risks, rising Fed rate cut expectations.
The yen, on the other hand, has been getting attention amidst increasing geopolitical and trade tensions, hawkish BOJ expectations, and rising Japanese government bond yields.
Remember that directional biases and volatility conditions in market price are typically driven by fundamentals. If you haven’t yet done your homework on the U.S. dollar and the Japanese yen, then it’s time to check out the economic calendar and stay updated on daily fundamental news!
USD/JPY reversed from the 158.50 area earlier this year and has been in a downtrend ever since. Today, the pair is testing key resistance after bouncing from its 146.60 lows.
