USDJPY Analysis on H1 29/8/2023
-USDJPY is currently approaching a fairly strong resistance zone around the range of 146.5xx - 146.7xx.
-Should selling pressure materialize within this zone, especially in conjunction with bearish news, it would favor a decline in price. There's a significant possibility of a pronounced drop towards the levels of 145.600 - 145.202.
-However, if following the release of the US session today, the price manages to break above the 146.700 mark, this could provide an opportunity for buying.
-Should selling pressure materialize within this zone, especially in conjunction with bearish news, it would favor a decline in price. There's a significant possibility of a pronounced drop towards the levels of 145.600 - 145.202.
-However, if following the release of the US session today, the price manages to break above the 146.700 mark, this could provide an opportunity for buying.