0713 GMT - USD/JPY faces a reasonable possibility to rise above the significant resistance zone between 150.60 and 151.45, provided it holds above 148.40, says Quek Ser Leang of UOB's Global Economics & Markets Research in a research report. The currency pair's rebound has garnered considerable upward momentum over the past few sessions and a bullish divergence is now confirmed, as the daily moving average convergence divergence indicator crossed into positive territory, the markets strategist notes. Although this week hasn't yet ended, there also seems to be early signs of a potential crossover in weekly stochastics from oversold territory, the strategist adds. USD/JPY is 0.4% higher at 149.77. (ronnie.harui@wsj.com)
(END) Dow Jones Newswires
March 18, 2025 03:13 ET (07:13 GMT)
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