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USD/JPY: Ascending Channel Holds, But a Breakdown Could Unleash Broader Impact

Published 11/08/2024, 07:48 AM
USD/JPY
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JP225
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The USD/JPY remains within the ascending channel with key support being at 151.60. The next upside target is the 78.6% Fib at 157.17.

But today, we want to focus more on the potential of a breakdown since that will have major technical repercussions.

It will both open the D/S for the pair and lead to a breakdown in the Nikkei 225. 149.25 will be the 1st D/S target for the pair.USD/JPY Daily Chart

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