USDJPY Technical Analysis: Consumer Confidence Impacts Market Dynamics
Friday, 16 August 2024, 09:34
Market Overview
USDJPY eased lower on Friday, slipping below 149.00 early in the day and testing near the 148.00 handle. The US Dollar is getting sold off across the board as broad-market sentiment recovers on the rise in consumer confidence. This technical analysis highlights key levels to watch in the USDJPY currency pair.
Impact of Consumer Confidence
- Consumer confidence indicators show a positive trend.
- The rise in sentiment could influence Federal Reserve policies.
- Market participants are evaluating the sustainability of this confidence.
Technical Levels to Watch
- Support Level: 148.00
- Resistance Level: 149.00
- Trend Analysis: Short-term bearish signals emerge.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.