USD/JPY Today's Market Analysis
【Daily Chart】
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| Daily Chart |
【4-Hour Chart】
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| 4-Hour Chart |
On the daily and 4-hour charts, we're observing consolidation at the lows, indicating a downward trend.
On the 60-minute chart, it appears the lows might be trending slightly upwards.
However, the 10 EMA on the 4-hour chart is proving to be a resistance line.
We're expecting the Tokyo market players to enter around 8:30.
It'll be key to watch the market participants' behavior then!
Similarly, for the GBP/JPY pair, the daily and 4-hour charts show a consolidation at the lows, with a bias towards a downward trend.
The 10 EMA on the 4-hour chart is acting as a resistance line.
Even on the 60-minute chart, the range is sideways, but the upside seems heavy, indicating that a break below is a possibility to watch for.
With UK markets closed, keep an eye on the correlation with USD/JPY during Tokyo hours.
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