USDJPY 10 Jul 2024 On the weekly timeframe, USDJPY has been in a bullish trend since the beginning of this year. Although it has experienced some trend reversals, the bullish momentum is still quite strong and continues. The pair is above the kumo cloud with a price position of 161.437, showing the strength of the bullish trend. However, the stochastic indicator shows that the pair is in an overbought zone, which could indicate a potential reversal or correction in the near future. Traders should be vigilant and monitor bearish signals that may appear on candlestick charts or other technical indicators before making a sell decision or taking profit.
