Hello traders, today we will explore the world of trading the USDJPY pair. Follow us as we analyze trends and potential opportunities in this dynamic market.

USDJPY Trading Analysis and Trading Signal for April 24, 2024:

In Japan, officials aren’t stepping in to control the market right now. People are thinking that the US might delay cutting interest rates, even though the US economy is staying strong. This is causing more people to buy dollars and sell yen. It’s smart to pay attention this week because things could change a lot.

• The US will tell us about its economy for the first quarter on April 25th.
• On April 26th, Japan will decide on its interest rates, and the US will share its March spending price index.
• The US has a big meeting planned for May 2nd.

The USDJPY rate has been going up a lot since it passed 152 before. This shows it might keep going up towards the resistance line or even higher. If it goes down a bit, it will probably bounce back up before going higher again. We’ll have to wait and see if it breaks the highest resistance or goes down again.

With all these important events happening, we need to keep watching closely.

Here’s what we expect: First, it might drop a bit to around 154 and then go up to about 158 in the medium term. Second, it could rise to 158 in the medium term but then drop back down to around 152 in the long term.

Trading with Guriforex.