USD/JPY: Cautious ahead of the 149.50-150 resistance zone – OCBC

Market news

18 October 2022

USD/JPY: Cautious ahead of the 149.50-150 resistance zone – OCBC

USD/JPY was last seen trading just below the 149 level. Economists at OCBC Bank highlight that the 149.50-150 area is an important resistance zone.

Rising intervention risks

“Intervention risks are on the rise as the magnitude of USD/JPY gains is increasing.”

“Cautious ahead of 149.50-150 levels.”

“Bullish momentum on daily chart intact while RSI shows signs of turning from overbought conditions.”

“Resistance at 149.50. Support at 147.70, 146 levels.”

Currencies. Daily history for Tuesday, October 18, 2022

Commodities. Daily history for Monday, October 17, 2022

Market Focus

Material posted here is solely for information purposes and reliance on this may lead to losses. Past performances are not a reliable indicator of future results. Please read our full disclaimer

Open Demo Account & Personal Page

Personal area

support@teletradepartners.com

Risk Warning: Trading in the financial markets (including trading on margin) provides a wide range of opportunities and enables investors ready to take risks to make high profits, but it carries a potentially high level of risk of loss. Therefore, prior to trading you should take into careful consideration whether such operations are suitable for you in terms of your level of knowledge and financial situation.