USDJPY began Thursday's session with a significantly higher high than Wednesday's. During the London trading session, it initiated a bullish correction, potentially aiming for the 50% retracement level, EMA 50, or Bollinger's mid band.
All indicators currently display a bullish bias:
Additionally, the volume profile indicator highlights a high-volume zone, specifically at 147.961-147.988 (depicted in a light blue rectangle). This point of control can serve as a support zone, where traders might anticipate bullish responses upon price contact. Furthermore, it coincides with the Fibonacci 50% retracement level, a significant area closely monitored by traders.
USDJPY exhibited a bullish trend with technical indicators supporting further upward movement. Traders are likely to focus on potential support levels like the 50% retracement, EMA 50, and Bollinger's mid band. The volume profile indicator also highlights a crucial support zone at the Fibonacci 50% retracement level, enhancing its significance as a potential bullish reaction point.
Forecast: 225K
Previous: 220K
Forecast: -1.0
Previous: 12.0
Forecast: 4.10M
Previous: 4.07M
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