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USD/JPY – Continued consolidation or continued trend?

AnalyticsTrade Team
AnalyticsTrade Team Last updated on 18 Dec 2022
Category: USD/JPY
Technical Analysis usdjpy

Table of Contents

The USD/JPY remained in a consolidation last week. The pair is eying the Bank of Japan’s meeting next week that may stimulate the market.

Technically, the pair remains supported by the 200-day SMA. However, the support looks feeble and may be dominated by the sellers. The upside potential has been barred by the 20-day SMA. The potential formation of a bullish crossover between 50-day and 100-day SMAs threatens further drop for the pair.


Key levels to watch

Support 1: 135.60

Support 2: 134.80

Support 3: 133.50

Resistance 1: 138.05

Resistance 2: 140.00

Resistance 3: 140.75

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