The USDJPY has stretched to a new lows in the US session, and in doing so, extended back below the 38.2% of the 2025 trading range (from the January high) at 147.13 but stalled short of the rising 200-bar MA at 147.04. An upward trend line is also is in play on the downside.
I spoke to the support target in the morning video (CLICK HERE - starting at 2:10 in the video).
The low price for the day reached to 147.08 between the levels.
When a confluence of technical levels like in the USDJPY chart above, traders will use the area as an area to lean against. Why? Risk can be defined and limited against the area. Traders who buy can put a stop on a break and risk a little, hoping for a more significant move higher.
Conversely traders who are short, can take profit at the technical level. Alternatively, they can hope for a break which should lead to further momentum in the downside direction.
This article was written by Greg Michalowski at investinglive.com.Hence then, the article about usdjpy technicals usdjpy stretches toward target support and bounces was published today ( ) and is available on forex live ( Middle East ) The editorial team at PressBee has edited and verified it, and it may have been modified, fully republished, or quoted. You can read and follow the updates of this news or article from its original source.
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