USDJPY → Consolidation in the buying zone

26. Dez. 2024

USDJPY continues its bullish rally on the background of growing dollar. The fundamental background is on the side of the dollar, which is generally a negative factor for the yen.

Technically, the price is still inside the uptrend. Moreover, the currency pair is breaking the flat resistance and after the correction and false breakout, it is consolidating above 156.75.
If the bulls hold the defense above this level, the currency pair will head towards 160-162 in the medium term. The technical and fundamental background is on the side of the buyer.

Resistance levels: 157.76, 160
Support levels: 155.88, 154.5

Price consolidation above 156.76 and further breakdown of the local maximum will provoke active purchases, which may lead the price to the targets indicated on the chart.

Regards R. Linda!
Happy Holidays and a productive 2025!