find the previous test and see how prices moves.

 

 

USD/JPY is looking weak on the chart, currency broke the crucial level and took a retest and started going down. Now Support has become resistant, chances are high it may go down if does not hold here.

 

USD/JPY is a currency pair in the foreign exchange (forex) market. The currency pair consists of the U.S. Dollar (USD) and the Japanese Yen (JPY). In forex trading, currencies are quoted in pairs, and the exchange rate represents the relative value of one currency to another.

When you see the USD/JPY pair, it tells you how much Japanese Yen you need to spend to buy one U.S. Dollar. For example, if the USD/JPY exchange rate is 146.5 (may be change during time), it means 1 U.S. Dollar is equivalent to 146.5 Japanese Yen.

Here’s a breakdown of the components:

Base Currency (USD): This is the currency on the left side of the pair (USD/JPY). It represents the unit of currency being traded. In this case, 1 U.S. Dollar.

Quote Currency (JPY): This is the currency on the right side of the pair (USD/JPY). It represents the amount of the quote currency that one unit of the base currency can buy. In this case, 146.5 Japanese Yen.

The exchange rate of the USD/JPY pair can fluctuate based on various factors such as economic indicators, interest rates, geopolitical events, and market sentiment. Traders in the forex market engage in buying or selling currency pairs like USD/JPY with the expectation that the exchange rate will move in a favorable direction, allowing them to profit.

It’s important to note that forex trading involves risks, and individuals should thoroughly understand the market, use risk management strategies, and consider consulting with financial professionals before participating in forex trading.

 

Note: Rate are not fixed and may be different from the article since it chances with time.

 

USD/JPY -4th Dec. 2023

Note: It’s important to note that forex trading involves risks, and individuals should thoroughly understand the market, use risk management strategies, and consider consulting with financial professionals before participating in forex trading

 

Read previous post on the same topic: USDJPY May take resistant/break @152 (tradersfight.com)

 

Live USD/JPY PRICE chart: Click here