USDJPY: "Tug of War" Within Key Zones, Signals Remain Unclear
Diupdate
On November 26, USDJPY finds itself in a tug of war between buyers and sellers, hovering around 153.882. Two key zones are constraining price movement: resistance at 155.878, like a "steep mountain" that's hard to climb, and support at 153.592, acting as "solid ground" preventing deeper declines.
The EMA 34 (154.480) and EMA 89 (154.102) form a "connecting thread," both supporting and restraining the price in a state of balance. Failure to break resistance may result in USDJPY "free-falling" toward lower support levels. On the other hand, a breakout above 155.878 could serve as a "ticket" to higher price levels.
Amid rising U.S. bond yields and the Bank of Japan's cautious stance, the market is waiting for clearer signals. Traders should prepare plans for both scenarios to avoid being caught off guard.
The EMA 34 (154.480) and EMA 89 (154.102) form a "connecting thread," both supporting and restraining the price in a state of balance. Failure to break resistance may result in USDJPY "free-falling" toward lower support levels. On the other hand, a breakout above 155.878 could serve as a "ticket" to higher price levels.
Amid rising U.S. bond yields and the Bank of Japan's cautious stance, the market is waiting for clearer signals. Traders should prepare plans for both scenarios to avoid being caught off guard.
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