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USDJPY: Price May Drop Below the $139.57 Support Value

Johnathon Fox
10/25/2024 | UPDATED ON: 10/25/2024

The currency pair still trades in a bullish market zone.
Sellers may drop the price below the $136.57 support value.

USDJPY Weekly Price Analysis – October 25

Currently, the USDJPY remains positive. However, the Yen price may likely collapse and drop below the $139.57 support value if the bears could add more aggression to their selling actions in the market. The target might be the $137.00 lower support value.
USDJPY Market

Key Levels:
Resistance levels: $151.00, $152.00, $153.00
Support levels: $141.00, $140.00, $139.00

USDJPY Long-term Trend: Bullish (Daily Chart)

From the point of view of the daily chart, the USDJPY market may drop below the $139.57 support as the pair-buying pressure will soon end. Though the price bar is above the supply level, indicating a bullish trend, the pair may resume a downtick trend soon and drop below the previous low value.
USDJPY: Price May Drop Below the $139.57 Support Value
The high bullish pressure on the currency pair in the past few days has sustained the Yen price above the supply trend levels in its recent high.

Today, the USDJPY price on the daily chart is trading at the $152.71 high level above the EMA-50, indicating a bullish momentum. Meanwhile, it also suggests that the bears are warming up to take over the trend as the bullish pressure will soon subside.

Hence, if the sell traders increase their swagger and exchange hands with the bulls at the $152.71 resistance level, the Yen price may drop below the $139.57 support value, confirming the return of the sell traders and sell signal.

In addition, the USDJPY pair is around 98% at the overbought region of the daily stochastic, indicating that the buying pressure will end soon. Thus, the emergence of the bears is imminent at the moment and this may drop the Yen price below $139.57 to hit the $137.00 lower support value in the coming days in its long-term outlook.

USDJPY Medium-term Trend: Bullish (4H Chart)

The currency pair’s orientation trades in a bullish market in its medium-term outlook. However, the Yen price may drop below the previous low level as it is overbought. The price bars are above the moving averages, suggesting a bullish trend.
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Name:

Mohammad adra
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Mohammad adra
Hi
Ben Alan
Hello
How may I help you?
Mohammad adra
Hi
How are you
I need to join the vip telegram channel
I opened an account on eightcap
And I fund it with 290 usd
I sent an eamil to support with my telegram account and the account screenshot from yesterday but there is no reply from them side
Could you please help me on that
Ben Alan
Sorry about that
You may need to resend the email, while I escalate it from here too.
Mohammad adra
3 days with no reply
i resent it two time
Is there really a VIP channel, or is it just an advertisement?
Ben Alan
There is a VIP channel
Read
•
5m
Mohammad adra
then whay there is no one reply me on email an also the live chat
yesterday i report the isssue on live chat
without any action
The intervention from the bulls at the $151.46 supply value in the previous action has made the price of USDJPY stay above the supply trend line in its recent high.

The market value of USDJPY increases to a $152.71 high level above the EMA-50 shortly after the commencement of the 4-hourly chart today, indicating an uptrend.

Hence, the pair may resume its downward trend soon as the buying pressure seems to be exhausted. Thus, sellers must add more pressure to their activities to move the market price below the $139.57 support level.

In addition, the market value of USDJPY is pointing upwards around level 99% of the daily stochastic. This will compel the sell traders to cluster around the market and drop the price further. Thus, the Yen price may drop below the 139.57 lower support value in the coming days in its medium-term outlook as we watch sellers taking over soon.

Note: Forexschoolonline.com is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results.

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About Johnathon Fox

Johnathon is a Forex and Futures trader with over ten years trading experience who also acts as a mentor and coach to thousands and has written for some of the biggest finance and trading sites in the world.

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