82% of retail investors hold short positions.
Resistance Level 2: 150.00
Resistance level 1: 149.00
Spot price: 148.46
Support bit 1: 147.80
Support bit 2: 147.00
On Monday (October 9), the U.S. dollar fell 0.57% against the Japanese yen to 148.49. As the situation in the Middle East panics the market, the Japanese yen, a traditional safe-haven currency, has been favored in cross trading, which has also indirectly increased its direct quotation against the US dollar. In addition, although the U.S. non-farm payrolls data is strong, it is not enough to change expectations that the Federal Reserve will keep interest rates unchanged in November. Therefore, investors seem to be starting to find excuses to ease the pressure on the yen. USD/JPY is likely to see an adjustment downward trend under profit-making selling pressure. On the daily chart, the signs of top divergence seem to be gradually confirmed, the price line has also begun to fall below the middle track of the Bollinger Bands channel, and the technical indicators are trending downward. Pay close attention to the support of 147.50 below. If it falls below, be careful that the adjustment downward momentum may drag USD/JPY to a lower level.
Resistance level 1: 149.00
Spot price: 148.46
Support bit 1: 147.80
Support bit 2: 147.00
On Monday (October 9), the U.S. dollar fell 0.57% against the Japanese yen to 148.49. As the situation in the Middle East panics the market, the Japanese yen, a traditional safe-haven currency, has been favored in cross trading, which has also indirectly increased its direct quotation against the US dollar. In addition, although the U.S. non-farm payrolls data is strong, it is not enough to change expectations that the Federal Reserve will keep interest rates unchanged in November. Therefore, investors seem to be starting to find excuses to ease the pressure on the yen. USD/JPY is likely to see an adjustment downward trend under profit-making selling pressure. On the daily chart, the signs of top divergence seem to be gradually confirmed, the price line has also begun to fall below the middle track of the Bollinger Bands channel, and the technical indicators are trending downward. Pay close attention to the support of 147.50 below. If it falls below, be careful that the adjustment downward momentum may drag USD/JPY to a lower level.
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The market is currently relatively stable, waiting for further gains.