USD/JPY trades around 146.70 on Tuesday. Daily chart analysis shows the nine-day Exponential Moving Average (EMA) is lower than the 21-day EMA, indicating a bearish trend in the market. Additionally, the 14-day Relative Strength Index (RSI) remains below 50, indicating that the bearish trend is still in effect.
In terms of support, the USD/JPY pair might first test the nine-day Exponential Moving Average (EMA) at around 145.91. If the pair falls below this level, it could move toward the seven-month low of 141.69, recorded on August 5, and subsequently find the next support level around 140.25.
Disclaimer: The views expressed are solely those of the author and do not represent the official position of Followme. Followme does not take responsibility for the accuracy, completeness, or reliability of the information provided and is not liable for any actions taken based on the content, unless explicitly stated in writing.
Leave Your Message Now