{"@context":"https:\/\/schema.org\/","@type":"BlogPosting","@id":"https:\/\/forexschoolonline.com\/usdjpy-may-continue-buying-pressure-as-it-faces-rejection-at-level-140-594\/#BlogPosting","mainEntityOfPage":"https:\/\/forexschoolonline.com\/usdjpy-may-continue-buying-pressure-as-it-faces-rejection-at-level-140-594\/","headline":"USDJPY: May Continue Buying Pressure as It Faces Rejection at Level $140.594","name":"USDJPY: May Continue Buying Pressure as It Faces Rejection at Level $140.594","description":"The pair is now showing a few bullish signs above the support level.A bullish scenario is playing out in the medium-term outlook.USDJPY Weekly Price Analysis \u2013 November 18USDJPY may likely continue its bullish trend provided the $140.472 support value holds. USDJPY May Continue Buying Pressure as It Faces Rejection at Level $140.594. Further increase in […]","datePublished":"2022-11-18","dateModified":"2022-11-18","author":{"@type":"Person","@id":"https:\/\/forexschoolonline.com\/author\/jonfox\/#Person","name":"Johnathon Fox","url":"https:\/\/forexschoolonline.com\/author\/jonfox\/","identifier":1,"description":"Johnathon is a Forex and Futures trader with over ten years trading experience who also acts as a mentor and coach to thousands and has written for some of the biggest finance and trading sites in the world.","image":{"@type":"ImageObject","@id":"https:\/\/secure.gravatar.com\/avatar\/d0b589a007c132efe23124c05a02b68524844c0089401129bd50bc12ee59d3a9?s=96&d=monsterid&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/d0b589a007c132efe23124c05a02b68524844c0089401129bd50bc12ee59d3a9?s=96&d=monsterid&r=g","height":96,"width":96}},"publisher":{"@type":"Organization","name":"Forex School Online","logo":{"@type":"ImageObject","@id":"https:\/\/www.forexschoolonline.com\/\/wp-content\/uploads\/2018\/09\/FSO-Transparent-logo-gr.png","url":"https:\/\/www.forexschoolonline.com\/\/wp-content\/uploads\/2018\/09\/FSO-Transparent-logo-gr.png","width":240,"height":60}},"image":{"@type":"ImageObject","@id":"https:\/\/forexschoolonline.com\/wp-content\/uploads\/2022\/11\/USDJPY-LNT-3.png","url":"https:\/\/forexschoolonline.com\/wp-content\/uploads\/2022\/11\/USDJPY-LNT-3.png","height":546,"width":1280},"url":"https:\/\/forexschoolonline.com\/usdjpy-may-continue-buying-pressure-as-it-faces-rejection-at-level-140-594\/","about":["Forex Trading Tools","FX Technical Analysis","Trade Idea","Trade Setups","USD\/JPY"],"wordCount":460,"keywords":["FX Technical Analysis","US Dollar Japanese Yen","USDJPY"],"articleBody":"The pair is now showing a few bullish signs above the support level.A bullish scenario is playing out in the medium-term outlook.USDJPY Weekly Price Analysis \u2013 November 18USDJPY may likely continue its bullish trend provided the $140.472 support value holds. USDJPY May Continue Buying Pressure as It Faces Rejection at Level $140.594. Further increase in the bull\u2019s pressure may break up the $150.286 high mark and this may extend the price to the $160.000 upper supply value.USDJPY MarketKey Levels:Resistance levels: $148.400, $148.500, $148.600Support levels:\u00a0 \u00a0 \u00a0$137.600, $137.500, $137.400USDJPY Long-term Trend: BearishThe USDJPY pair is in a bearish trend zone in its long-term outlook. The short traders are now involved in the order flow. Meanwhile, the bulls caused a rise in the market value of the Yen to the $140.291 supply value as the high of the high during yesterday\u2019s session. This however gives buyers more strength to continue the upward move as the daily chart opens today at the $140.615 resistance level.The impulse move from the buy traders further increases the price of the Yen up to the $140.716 high trend line below the two EMAs. This implies that the buy traders are warming up for the next big move to the upsides.Similarly, the market value of USDJPY pointing up around level 24% of the daily stochastic suggests that the selling pressure has been exhausted. This will now compel the bulls to cluster around the market and push the price of the currency pair further upward. As a result of this bullish pattern, the price might possibly hit the $160.000 supply trend line soon in its higher time frame.USDJPY Medium-term Trend: BullishThe Yen is now finding its way up as the bulls gradually stage a return to the market in its medium-term outlook.After testing the support level at $139.629 in the support area during yesterday’s session, the bears staged a return and pushed the price down to the $139.039 support value before the end of yesterday\u2019s session.The bulls made a strong push to the $140.594 high level above the EMA-9 as the 4-hourly session opens today.The buy investors reacted to the market prices and further increased the price of the Yen to the $140.738 supply level as the bulls took to resume the uptrend and dominate the market at the present.Hence, further downsides are unlikely as the daily stochastic remains in an upward direction indicating an upward momentum. This implies that the bulls may likely continue in the same direction and in this case the price of the Yen might reach the $160.000 supply mark soon in its medium-term outlook.Note:\u00a0Forexschoolonline.com\u00a0is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results. "}