The USDJPY price loses momentum – Forecast today - 18-04-2024
Economies.com
2024-04-18 04:00AM UTC
Price Analysis: USDJPY
Expected Scenario
- The USDJPY price attempted to approach the 155.00 barrier but bounced bearishly, heading towards a potential test of the bullish channel’s support line at 153.05. The bearish bias is suggested in the upcoming sessions as the price lacks the required positive momentum to continue the rise.
- The continuous move inside the bullish channel suggests that the expected decline is temporary, waiting to resume the main bullish trend again. Noting that breaching 154.65 will stop the suggested bearish bias and push the price to achieve new gains on the intraday and short-term basis.
Expected Outcome
The expected trading range for today is between 153.30 support and 154.90 resistance.
Trend Forecast: Bearish
Forex and Currency News
Forex
Dollar parks at two-week highs ahead of Fed decisions
2024-05-01 11:37AM UTC
The dollar rose in European trade on Wednesday against a basket of major rivals, extending gains ...
Forex
Kiwi plumbs two-week trough after disappointing labor data
2024-05-01 05:03AM UTC
The New Zealand dollar fell in Asian trade on Wednesday against a basket of major rivals, ...
Forex
Dollar climbs ahead of crucial US data
2024-04-30 11:33AM UTC
The dollar rose in European trade on Tuesday against a basket of major rivals away from two-week ...
Forex Technical Analysis
Forex
The GBPUSD forecast update 01-05-2024
2024-05-01 10:07AM UTC
GBPUSD Price Analysis: Expected Scenarios The GBPUSD price attempted to break 1.2480$ level but it ...
Forex
The EURUSD price forecast update - 01-05-2024
2024-05-01 10:07AM UTC
EURUSD Price Analysis: Expected Scenarios The EURUSD price shows some slight bullish bias now, ...
Forex
The GBPCHF provides positive signal – Forecast today – 1-5-2024
2024-05-01 05:33AM UTC
Scenarios and Trading Range Expected Scenarios GBPCHF price provided positive signals by ...