U.S. Dollar / Japanese YenUpdated USD/JPY drops sharply, has the potential to increase?
Looking at the technical picture of USD/JPY on the 4-hour chart, we can clearly see that this pair is trading around 147.30 and has momentum to return to the expected short-term bearish support line.
_Given that the trend line remains intact as a rule, we must stick to the script and aim lower. That means we will follow that plan. If we clearly see a strong rejection near that trendline. If that happens, it is likely to reach 148.50, the highest level of the month and maintain in a narrow trend before new information is released.
_Given that the trend line remains intact as a rule, we must stick to the script and aim lower. That means we will follow that plan. If we clearly see a strong rejection near that trendline. If that happens, it is likely to reach 148.50, the highest level of the month and maintain in a narrow trend before new information is released.
Note
USD/JPY is moving according to the chart indicator.Note
good luck
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Related publications
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.