"USDJPY Technical Analysis: Why Trend Remains Steady Amidst Lack of Catalysts"
**USDJPY Technical Analysis – Lack of Catalysts Keeps the Trend Intact** *Source: https://www.tradingview.com/news/forexlive:61c0d45a3094b:0-usdjpy-technical-analysis-lack-of-catalysts-keeps-the-trend-intact/*
Fundamental Overview
The US Dollar remains stable despite a slowdown in momentum, attributed to a lack of catalysts.
- The market anticipates significant economic data, the FOMC decision, and US elections in early November.
- A prevailing sentiment suggests markets are positioning for a potential Trump victory, which could strengthen the USD.
Technical Analysis
Daily Timeframe
Currently, USDJPY is fluctuating around the 149.40 level, with the 150.00 handle acting as a resistance.
- Buyers are aiming for a breakout above 150.00 to target 152.00.
- Sellers seek to break below 149.00, which could lead to a decline towards 147.22.
4-Hour Timeframe
The 4-hour chart shows a decline in bullish momentum as the price approaches the 150.00 handle.
- The price action is volatile near the 149.40 level, complicating trend assessments.
1-Hour Timeframe
In the 1-hour analysis, a brief dip below a minor upward trendline was observed, followed by a recovery.
- A new counter-trendline emerges, suggesting potential selling opportunities unless buyers push higher toward 152.00.
- Average daily range visuals define potential price maneuvers for the day.
Upcoming Catalysts
- Key economic releases are expected later this week, including the Flash Japanese and US PMIs, and US Jobless Claims on Thursday.
- The week will conclude with the Tokyo CPI report on Friday.
