USD/JPY Hammer Pattern Points to Rebound Risk Near 156.00
USD/JPY is trading near 156.85 after a weekly decline of more than 0.74%, with a hammer candle pattern suggesting a possible rebound from the 156.00 area.
USD/JPY is holding around 156.85 in daily trading even as risk sentiment remains soft. The pair lost more than 0.74% over the week, with the Japanese yen finishing on a stronger note.
A hammer candle pattern is forming near the 156.00 level, which technical traders often view as a sign of potential rebound risk for the pair. The setup suggests the downside may be running out of momentum in the short term.
Source: FXStreet Forex News
