Hello again, we have come now with the analysis of the USDJPY market. Let’s delve into the analysis without delay.
USDJPY Market Technical Analysis & Signal for Feb 10, 2025 by Guriforex:
The USDJPY market has formed a strong double-bottom pattern, signaling a potential reversal in trend. The price is now testing the 152.30 resistance level, and a breakout above this key zone could trigger further bullish momentum towards higher targets.
🔎 USDJPY Market Key Insights
Double-Bottom Pattern Confirmed:
The USDJPY market price action suggests buyers are stepping in, forming a strong base around 151.50 and pushing prices higher. This bullish pattern typically signals a trend reversal.
152.30 Resistance in Focus:
The USDJPY market is now challenging the 152.30 resistance level. A successful breakout above this zone could confirm a move towards higher price levels.
Fundamental Factors Supporting USDJPY Market:
- The US dollar remains strong, supported by the Federal Reserve’s cautious stance on interest rate cuts.
- Japan’s economic policies continue to keep the yen weak, favoring further USDJPY market upside.
- Upcoming economic data, including US inflation reports and BOJ announcements, may influence volatility.
📊 USDJPY Market Technical Analysis – Key Levels to Watch
Bullish Breakout Above 152.30: USDJPY needs to sustain its move above 152.30 to confirm further upside.
First Target at 153.10: A break above 152.30 could push the price toward the next resistance level at 153.10.
Final Target at 154.00: If the bullish momentum continues, trading pair could test higher resistance zones around 154.00.
Trade Setup – USDJPY Long Position
🔼 Buy USDJPY on a breakout above 152.30
🎯 Target 1: 153.10
🎯 Target 2: 154.00
🔴 Stop-Loss: Below 151.80 (to protect against false breakouts)
🚀 What’s Next for This Pair?
If the pair successfully breaks and holds above 152.30, we could see further bullish acceleration. However, failure to break this resistance might lead to a short-term pullback before another attempt.
Do you believe the market will continue rising? Click ❤️ if you’re bullish! 📈🔥