USD/JPY Price Analysis: Holds losses below 142.50, support appears at seven-month lows

• USD/JPY might retest the seven-month low of 141.61, tape-recorded on Thursday.
• If the 14-day Relative Strength Index falls listed below the 30 level, it might possibly set off a short-term restorative rebound.
• The main preliminary resistance lies near the nine-day EMA at 143.80.

USD/JPY inches lower after signing up gains in the previous session, trading around 142.40 throughout the Asian session on Friday. An analysis of the everyday chart revealed the set moves downward within a coming down channel, showing a validated bearish predisposition.

The USD/JPY set continues to trade listed below the nine-day Exponential Moving Typical (EMA), signifying suppressed short-term momentum. On the other hand, the 14-day Relative Strength Index (RSI) hovers simply above the 30 level, additional supporting the continuous bearish outlook. A drop listed below the 30 mark might recommend an oversold condition, possibly setting off a short-term restorative rebound.

On the disadvantage, the USD/JPY set might review the seven-month low of 141.61, marked on Thursday, followed by the coming down channel’s lower border near 140.80. A definitive break listed below this channel might enhance the bearish predisposition and unlock for an approach 139.58– the most affordable level given that July 2023, last seen in September 2024.

To the benefit, preliminary resistance is seen at the nine-day EMA around 143.80. A breakout above this level might enhance short-term momentum and lead the way for a test of the coming down channel’s upper border near 146.30.

Additional resistance lies at the 50-day EMA at 148.30, followed by the two-month high of 151.31, tape-recorded on March 3.

USD/JPY: Daily Chart