USD/JPY trades in a tight range between 156.35 and 159.00 as the pair faces resistance from key moving averages following a rebound from September lows.
Societe Generale strategists identify a consolidation phase for USD/JPY, noting a recovery from the 152.90 September lows. The pair is currently constrained by key moving averages and a defined trading range between 156.35 and 159, which serves as a technical pivot point for future momentum.
The pair is currently trading in a sideways pattern between 156.35 and 159.
It represents the September low from which the pair has staged a sharp rebound.
Societe Generale strategists report that USD/JPY is currently trading in a sideways pattern following a sharp recovery from September lows near 152.90. The pair remains constrained by key moving averages, with market participants awaiting a decisive breakout from the 156.35 to 159.00 range to determine the next major trend.
The pair is currently in a consolidation phase between 156.35 and 159.00, with key moving averages acting as a cap on further upside momentum.