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USDJPY plummets to new 9-month low
USDJPY tumbled to a fresh nine-month low of 140.70 earlier today, boosting the bearish structure that started at the beginning of July. If the market ends the day below the 141.60 strong barrier, then the focus will shift to the 140.20 support, taken from the lows in December 2023. Steeper declines could pave the way for a test of the July 2023 trough at 137.20. On the other hand, a rebound from 141.60 could add some optimism about an upside correction, hitting the 143.40 resistance ahead of the 20-day SMA at 144.80. Rising further, the area within 146.45-147.15, which encapsulates the 23.6% Fibonacci retracement ... (full story)
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- Posted: Sep 11, 2024 6:57am
- Submitted by:Category: Technical AnalysisComments: 0 / Views: 5,214
