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USDJPY consolidates within key moving average range amid mixed signals
USDJPY continues to trade within its critical moving average range, showing indecision as traders await clearer directional signals. The pair has been oscillating between key technical levels, with the 100-day and 200-day moving averages acting as dynamic support and resistance zones. Current price action suggests a period of consolidation following recent volatility in both the dollar and yen markets. The Japanese currency has found support from ongoing Bank of Japan policy normalization expectations, while the dollar receives mixed signals from US economic data. Technical indicators point to a neutral stance, with momentum oscillators showing neither overbought nor oversold conditions. Traders are closely monitoring the range boundaries, as a decisive break above or below the moving average convergence could signal the next major directional move. Near-term resistance sits at the upper moving average band, while support is established at the lower boundary of the current trading range.
USDJPY
Sentiment:
Neutral
Source: Finnhub