U.S. Dollar / Japanese Yen
Short
Updated

USDJPY in Downtrend

329
Hey dear friends,

Looking at the chart, USDJPY is currently in a corrective phase after hitting a significant resistance level. The price has breached below the trendline, and if it closes the candle below this level, USDJPY will likely trigger a stronger bearish move.

With this outlook, the next target for the decline is the 146.00 area. The price could continue moving lower if the current support isn’t held. Keep an eye on this level to confirm a stronger bearish trend.

Good luck, and don’t forget to share your thoughts in the comments!
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