USDJPY: Bearish behavior takes advantage
Updated
Hello everyone, what do you think about the USDJPY today? Will it increase or decrease in value?
Currently, this currency pair is trading around 146.69 and has lost 0.12% during the day.
The level of 147.00 has failed to sustain the current downward trend, and any further price declines are likely to find strong support near last week's low around the 145.65 area. However, additional selling activity may be seen as a new factor for traders to push prices lower and open the door for deeper losses as it adjusts to the 0.618 retracement level and the selling side seeks more opportunities to push the USDJPY down to the 144.800 level.
Currently, this currency pair is trading around 146.69 and has lost 0.12% during the day.
The level of 147.00 has failed to sustain the current downward trend, and any further price declines are likely to find strong support near last week's low around the 145.65 area. However, additional selling activity may be seen as a new factor for traders to push prices lower and open the door for deeper losses as it adjusts to the 0.618 retracement level and the selling side seeks more opportunities to push the USDJPY down to the 144.800 level.
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