USDJPY / Bearish trend toward 138.470
USDJPY Analyze
The overall trend remains bearish as long as the price stays below 141.020, with downside targets at 138.470 and potentially 137.450.
A corrective move toward the pivot line at 141.028 is possible before the bearish trend resumes. However, if the price stabilizes above 142.100 with a 4-hour candle close, a bullish move of 141.030 extends toward 143.680.
In general, if the CPI is released as expected around 2.5%, this would support a bearish trend for USD/JPY.
Key Levels:
Pivot Line: 140.230
Resistance Levels: 141.02, 142.10, 142.55
Support Levels: 138.470, 137.440, 136.500
Expected Range: 141.020 - 138.460
Trend: Bearish while below 141.03
previous idea:
The overall trend remains bearish as long as the price stays below 141.020, with downside targets at 138.470 and potentially 137.450.
A corrective move toward the pivot line at 141.028 is possible before the bearish trend resumes. However, if the price stabilizes above 142.100 with a 4-hour candle close, a bullish move of 141.030 extends toward 143.680.
In general, if the CPI is released as expected around 2.5%, this would support a bearish trend for USD/JPY.
Key Levels:
Pivot Line: 140.230
Resistance Levels: 141.02, 142.10, 142.55
Support Levels: 138.470, 137.440, 136.500
Expected Range: 141.020 - 138.460
Trend: Bearish while below 141.03
previous idea:
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