This article is dedicated to examining the yen’s technical outlook. It offers an exhaustive price action analysis of the Japanese currency, discussing key levels that could act as support or resistance heading into the fourth quarter.
We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.2023-10-06 10:16:10Further your trading knowledge and gain informed market analyses from our expert analyst @DColmanFX on EUR with our free Q4 tradin...) continued its upward trajectory in the third quarter with remarkable continuity, driven by the resounding momentum of the greenback in currency markets.
On the flip side, should sellers make a comeback earlier than anticipated and initiate a bearish reversal, the first support to keep an eye on is located around the 144.50 threshold. While this zone may offer a potential foothold forduring a pullback, a breach could amplify the downward pressure, setting the stage for a move towards dynamic channel support at 142.00 at the time of writing. If this floor falter, USD/JPY may steer towards 137.
For a comprehensive view of the Japanese yen's fundamental and technical outlook, make sure to download our Q4 trading forecast today. It is totally free!Explore the impact of crowd mentality on FX trading dynamics. Download our sentiment guide to understand how market positioning in USD/JPY can serve as a compass for the pair's path ahead!Leveraged trading in foreign currency or off-exchange products on margin carries significant risk and may not be suitable for all investors.
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