USDJPY Chart Technical Outlook consolidates on risk appetite, bears eye 149.50
USD/JPY moves sideways as both currencies are under pressure. Robust reports from Nvidia improved risk sentiment, weighing on the USD. The technical recession and dovish comments from BoJ officials are pushing PY lower, while the intervention rhetoric could support it.
Prices consolidate in a contracting triangle. This is usually a continuation pattern – a pennant, but fundamentals change courses. If the risk appetite persists, prices could break lower. Trading below 149.50 confirms the top, and more losses will be expected.
Resistances: 150.80, 151.25
Supports: 149.50, 149.00
