USDJPY has been on an uptrend for the past few weeks, but a Head and Shoulder pattern has been detected on the 1-hour chart. Additionally, inflation in the US is decreasing, which could potentially impact the USDJPY pair.
If the Head and Shoulder pattern breaks below the resistance zone of 145.0 - 144.9, there is a possibility that the price could continue to move downward.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.