USD/JPY Maintains Bearish Trend Ahead of CPI Release
USD/JPY Maintains Bearish Trend Ahead of CPI Release
The overall trend remains bearish as long as the price stays below 142.100, with downside targets at 140.300 and potentially 138.470. A corrective move toward the pivot line at 142.100 is possible before the bearish trend resumes. However, if the price stabilizes above 142.100 with a 4-hour candle close, a bullish move could extend toward 143.680.
In general, if the CPI is released as expected around 2.5%, this would support a bearish trend for USD/JPY.
The overall trend remains bearish as long as the price stays below 142.100, with downside targets at 140.300 and potentially 138.470. A corrective move toward the pivot line at 142.100 is possible before the bearish trend resumes. However, if the price stabilizes above 142.100 with a 4-hour candle close, a bullish move could extend 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: 142.100
Resistance Levels: 143.680, 145.038
Support Levels: 140.300, 138.460 - Expected Range: 142.100 - 138.460
- Trend: Bearish while below 142.100.
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