USD/JPY Higher Range Emerges But Capped – UOB Analysis Reveals Key Resistance
- Higher Range Formation: According to UOB's analysis, the USD/JPY pair has established a new elevated trading range, although this range faces strong resistance at 152.00, with recent tests above 150.00 failing to hold, indicating a tug-of-war between dollar strength and yen weakness.
- Key Resistance Levels: UOB identifies 152.00 as the primary resistance level, with a break above this point potentially signaling a resumption of the uptrend; however, selling pressure intensifies in this area, and a drop below 148.00 could trigger a deeper correction, necessitating close monitoring of these key levels by traders.
- Monetary Policy Impact: The Bank of Japan's maintenance of an ultra-loose monetary policy, coupled with recent comments hinting at a potential policy shift, creates uncertainty that limits further yen depreciation, while the Federal Reserve's interest rate trajectory provides support for the dollar.
- Market Trading Strategies: UOB's analysis suggests traders sell near resistance and buy near support, utilizing a range-bound trading strategy to profit in a sideways market, while remaining vigilant for breakout signals to manage the high volatility inherent in the market.
Get Real-Time Alerts for Any Crypto Movement
Technical Analysis for MAJOR
Technical Sentiment Analysis for Major (MAJOR). As of , Major (MAJOR) is exhibiting a Strong buy technical sentiment. Our proprietary analysis, which aggregates 8 technical signals, shows that 6 indicators are flashing buy, while 2 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for MAJOR stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.
Support, Resistance & Moving Averages. From a structural perspective, MAJOR is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Major (MAJOR) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.0147 | 0.0354 | 0.0485 | 0.0692 | 0.0823 | 0.103 | 0.116 |
| Fibonacci | 0.0354 | 0.0483 | 0.0563 | 0.0692 | 0.0822 | 0.0901 | 0.103 |
About MAJOR
About the author
