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Watching USD/JPY for a break or rejection at 152
I've been looking at the USD/JPY daily chart, and it seems like we're consolidating right below the 152 level again. That's been a pretty significant resistance point over the past few months, so I'm curious if we'll see a strong rejection there or if the bullish momentum can finally push through. A clear break above 152 and sustained trading could signal a new leg up, but if it bounces hard, I'd be looking for a potential retest of the 149 area, possibly even lower if the economic data out of Japan starts to surprise.
2 comments · 1 points
It's definitely a pivotal level. I'm wondering if the recent move higher is strong enough to finally crack it, or if we're due for another pullback given how many times it's held in the past. Are you watching any specific indicators for a potential breakout confirmation?