Amid heightened market uncertainties, the yen emerged as a preferred refuge, appreciating by nearly 1.5% since the last session. Should risk sentiment continue to deteriorate, the yen may extend its gains, further pressuring risk-sensitive currencies.
Technical Breakout: USD/JPY has slipped below its previous low, reinforcing a bearish outlook for the pair. However, the key support level near 148.20 remains critical. If the pair continues to trade below this level, it will serve as a strong confirmation of sustained bearish momentum. A decisive break lower could trigger further downside, especially as safe-haven demand for the yen intensifies amid global trade concerns.
Potential Risks: A doji candlestick is spotted at the latest price action, it may be a trend reversal signal for the pair.
Monitoring: Stay updated on US economic data especially the NFP that is released tomorrow that could alter the price action for the dollar.
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Amid heightened market uncertainties, the yen emerged as a preferred refuge, appreciating by nearly 1.5% since the last session. Should risk sentiment continue to deteriorate, the yen may extend its gains, further pressuring risk-sensitive currencies.
Technical Breakout: USD/JPY has slipped below its previous low, reinforcing a bearish outlook for the pair. However, the key support level near 148.20 remains critical. If the pair continues to trade below this level, it will serve as a strong confirmation of sustained bearish momentum. A decisive break lower could trigger further downside, especially as safe-haven demand for the yen intensifies amid global trade concerns.
Potential Risks: A doji candlestick is spotted at the latest price action, it may be a trend reversal signal for the pair.
Monitoring: Stay updated on US economic data especially the NFP that is released tomorrow that could alter the price action for the dollar.
Open Your Free Demo Account And Start Trading Risk-Free
Join Now
Trade forex, indices, metal, and more at industry-low spreads and lightning-fast execution.
Sign up for a PU Prime Live Account with our hassle-free process.
Effortlessly fund your account with a wide range of channels and accepted currencies.
Access hundreds of instruments under market-leading trading conditions.
Sign up for a PU Prime Live Account with our hassle-free process.
Effortlessly fund your account with a wide range of channels and accepted currencies.
Access hundreds of instruments under market-leading trading conditions.