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USDJPY 31-10-2023 .

Technical Analysis
By Shady Fouad
0 25

USDJPY 31-10-2023 .

The current prices are trading near the lower boundary of the ascending channel. If the area of the first support zone  confirms a downward break within the range of 148.75 it could lead to an acceleration in a downward move. It’s worth noting that the upper channel boundary aligns with a significant resistance zone at around 150.50. As a result, prices may face selling pressure in this area, which could slower the upward momentum. The expectation is that selling pressure will persist until prices successfully break above this resistance zone.

Support

 148.75 148.20 147.90
Resistance 150 152

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Shady Fouad

Shady Fouad is a technical analyst at LDN Company
Shady's strategic vision in the currency markets is reinforced by more than fifteen years of trading experience, which enables him to blend economic and technical analyzes with high efficiency, and find the best investment ideas for traders.

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