Our pivot point is at 155.58.
Our preference: the downside prevails as long as 155.58 is resistance
Alternative scenario: above 155.58, look for 156.00 and 156.26.
Comment: the RSI is below 30. It could either mean that the price is in a lasting downtrend or just oversold and therefore bound to retrace (look for bullish divergence in this case). The MACD is below its signal line and negative. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 155.48 and 155.67). Finally, the USD/JPY is trading below its lower Bollinger band (standing at 155.13).
Supports and resistances:
156.26 **
156.00 *
155.58 **
155.41
155.02 last
154.51
154.26 **
154.00 *
153.75 **
Head of Research at TRADING CENTRAL: Rémy GAUSSENS
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Written on 12-03-2025 at 17:45 UTC+1
Price reference: 155.02 last known on 12-03-2025 at 17:45 UTC+1
Investment horizon: INTRADAY
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