USD/JPY Intraday Analysis: Potential Decline (READ DESCRIPTION)

6 days agoUSD/JPY Intraday Analysis: Potential Decline of 45 - 95 Pips

Pivot Point:
141.75

Primary Strategy (My Preference):
Consider initiating short positions below the key pivot of 141.75. Downside targets include 140.50 as the initial level, followed by an extended move towards 140.00.

Alternative:
In the event the price moves above 141.75, expect further upside with targets set at 142.30 and 142.70.

Technical Outlook:
A break below 140.50 would likely trigger a further drop towards 140.00. Traders should closely monitor this level for bearish continuation.