Euro / Japanese YenShort
USDJPY Observing Bearish Pressure in the market
USD/JPY observing bearish pressure in the market. Given the weak background market conditions, you're noting a potential bearish displacement.
Based on your analysis:
Resistance Zone: 162.000
Support Zone: 159.050
This suggests that if the price continues to move down, it may approach the support zone around 159.050. Conversely, if the price fails to break lower, it could find resistance near 162.000.
It would be helpful to look for additional indicators (like RSI, moving averages, or price action patterns) to confirm whether the bearish pressure is likely to persist. Additionally, keep an eye on any economic news that could impact the USD or JPY.
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Based on your analysis:
Resistance Zone: 162.000
Support Zone: 159.050
This suggests that if the price continues to move down, it may approach the support zone around 159.050. Conversely, if the price fails to break lower, it could find resistance near 162.000.
It would be helpful to look for additional indicators (like RSI, moving averages, or price action patterns) to confirm whether the bearish pressure is likely to persist. Additionally, keep an eye on any economic news that could impact the USD or JPY.
Rate Share your idea About USDJPY Traders Thanks.
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