USDJPY Trending Lower - Will It Drop To 145.200?

2 days ago

USDJPY is currently trading within a descending channel, indicating a strong bearish structure. The price has broken below a key support zone and may now pull back for a potential retest. This level previously acted as support and could now serve as resistance, aligning with a possible bearish continuation.

If sellers confirm resistance at this zone, the price is likely to move downward toward the 145.200 target. However, a failure to reject this level could indicate a potential shift in momentum.

Traders should monitor for bearish confirmation signals, such as bearish engulfing candles, strong wicks rejecting the resistance zone, or increased selling volume, before considering short positions.

Let me know your thoughts or any additional insights you might have!

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