USD/JPY reverses from 149.60 resistance on technical selling
USD/JPY has triggered a bearish reversal after failing to break above the crucial 149.60 resistance level, currently trading 0.4% lower at 148.85. The pair's inability to sustain momentum above this key technical barrier has prompted selling pressure from algorithmic traders and technical-focused participants. The 149.60 level has proven to be a formidable resistance zone, tested multiple times over recent sessions without success. Chart patterns suggest a potential double-top formation, with the neckline support at 148.20. A break below this level could accelerate declines toward 147.50, the 50-day moving average. Japanese yen strength is also supported by safe-haven flows amid global market uncertainties. Technical indicators including RSI and MACD are showing bearish divergence, reinforcing the negative outlook for the pair in the near term.
Related Symbols:
USDJPY
This is a summary of the original article by investing.com. To read the complete article, please visit the source website:
Read Full Article at investing.comNews data provided by Marketaux. ForexSentiment.live provides this summary as a convenience with proper attribution to the original source. The full article is available at the original publisher's website.
