USDJPY - New BEARISH Trend Ahead...

Dec 3

Summary: The USD/JPY exchange rate was unable to maintain stability above the 150.47 level, exhibiting significant bearish movement yesterday and trading between the 150.47 and 148.96 zones. This placed the pair under renewed downward corrective pressure, directing it toward targeting the 148.96 and 147.24 leves.

Generally, the direction is a downtrend

Uptrend Side: The price has been trading below 150.47 for a long time. This indicates a new decline in the near future towards 148.96 and below 147.24.

Downtrend Side: Reversing to above 150.47, especially above 152.42, the bullish step will begin toward 153.98.

Tendency Keys: 150.47

Dec 4

Trade active

The USD/JPY's positive movement toward the key resistance level of 150.47 yesterday is a noteworthy development. However, as previously mentioned, if the price fails to break above and sustain above this level, the bearish corrective scenario remains intact. The 150.47 level serves as a critical resistance point, and if the pair stays below it, the downward pressure is likely to continue, with the primary target still positioned at the 148.96 level.

Dec 5

Trade closed: target reached

Based on my analysis, the price has completed its correction, then declined and stabilized below 150.47. It is currently attempting to drop further in order to break 148.96. However, the correction is expected to conclude.

Tendency Keys: 150.47