USD/JPY May Target 151.80 as Bearish Signals Emerge
UOB Global Economics & Markets Research projects that the USD/JPY pair may decline to 151.80. Recent technical analysis indicates a bearish divergence similar to that seen during last year’s pullback to 148.63. Furthermore, the daily moving average convergence divergence points to overbought conditions, prompting close monitoring of market trends.
A potential crossover in the weekly stochastics could signal a critical shift in momentum. Traders should note the trend line support at 153.60, as a breach could lead to a retest of 151.80. How will these developments influence your trading strategy?
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