USDJPY 9 APR 2024 In the analysis of USDJPY on the daily timeframe, it can be seen that the pair is still experiencing a slight sideways movement below the resistance line. Nonetheless, the price is still holding above the Kumo Cloud on the Ichimoku Indicator, signaling that the bullish trend still remains strong. In addition, on the Stochastic Indicator, the moving average appears to be heading towards the 80 level, which indicates that bullish momentum is still present. The combination of the price consolidating below the resistance line and the price staying above the Kumo Cloud suggests that USDJPY is still in a long-term bullish trend. However, the current sideways movement may reflect the market waiting for stronger sentiment to determine the next direction. Traders need to watch for clearer price movements, particularly a break above the resistance line or a dip below the Kumo Cloud, before making further trading decisions.
