Today's Market Analysis

[Daily Chart]

[4-hour Chart]

Daily Chart Analysis

Despite bull patterns for three days, the trend's upward movement has been sluggish around the 147.40 - 147.50 range. If this sluggishness continues for three consecutive days, it indicates a bearish overall trend. Focus today is on the "sideways to bearish" sentiment. Upper limit points: 147.30 , 147.40 , 147.50 , and 147.80 Lower limit points: 147.10 , 147.00 , 146.90 , 146.80 , 146.60 , and 146.40

4 Hour Chart Analysis

The Bollinger Bands are squeezed, and a consistent narrow price range is observed, hinting towards a break to the downside. Triangle’s upper and lower limits are around 147.35 and 147.10 , respectively.

60 Minute Chart Analysis

Lowering highs and lows in the squeezed Bollinger bands suggest a break likely to happen soon. It seems probable the price will break lower, but Tokyo's initial reaction is worth monitoring.

Forecast for the Day

Despite the stronger 147 level trend, the upside appears heavy. There's high activity expected today, leaning towards the downside yet since the rise post 8:00, Tokyo is starting with a buy. Resistance around the 147.30 - 147.40 range could lead to a "sideways to bearish" sentiment and selling post pullback. As tomorrow's US employment statistics are awaited, today's range could continue. The range's upper limit (147.40 - 147.50 ) and lower limit (147.00 - 146.90 ) are noteworthy. Rates for an upward break and a downward break will be provided below.

USD/JPY, Today's Forecast Range

Upper limit points, around 147.30, around 147.40, around 147.50, around 147.70, around 147.80, around 147.90, around 148.00

Lower limit points, around 147.20, around 147.10, around 147.00, around 146.90, around 146 .80, around 146.60, around 146.40

USD/JPY Find the perfect rebound point.