USDJPY Buyers Recover Gains and Show Resilience

Market Analysis – March 14

USDJPY buyers recover gains and show resilience. For the past week, we have witnessed a notable improvement in the buying momentum of USDJPY. The selling pressure that was prevalent in the market has subsided, allowing the buyers to regain control. The sellers’ initial intention was to drive the price down to the next key level near the 143.000 market zone. However, the bulls have managed to find a way to penetrate back into the scene and reclaim their position.

USDJPY Key Levels

Resistance Levels: 150.000, 151.310
Support Levels: 146.350, 143.560

USDJPY Long-Term Trend: Bullish

During the previous month, the market experienced a prolonged period of accumulation above the 150.000 area. The buyers, who had been on a bullish charge since the beginning of the year, started to lose focus at this point. The price began to accumulate below the key level of 150.000, leading to a loss of momentum for the buyers.

With the intensity of the selling pressure, the sellers were able to push the price down to a significant level of 145.370. However, the buyers have regained their confidence and are now poised to regain control of the market. On the daily chart, the bulls are showing resilience and are determined to continue their upward momentum.

 USDJPY Short-Term Trend: Bullish

In the short term, the bulls will need to brace themselves to overcome the lingering sell pressure. The price oscillator is still accelerating above the origin level, indicating that there is potential for further recovery. It is highly possible to see the buyers recover up to the significant zone of 149.410. Market traders can now place their orders with confidence, especially when backed up with reliable forex signals.

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