Is USDJPY really bearish?
Updated
Brian greets you all!
Currently, USD/JPY is trading around the 149.00 level, facing strong selling pressure on Thursday. This currency pair is weighed down by the prolonged decline of the US dollar and the low interest rates of the US Treasury bonds. The risk of intervention from Japan also adds to the weight on this currency pair.
However, on larger timeframes, this currency pair is still maintaining its upward trends well. According to Brian's perspective, this could be a short-term correction in price. The price level of 148.7 may be retested before the upward trend resumes.
Currently, USD/JPY is trading around the 149.00 level, facing strong selling pressure on Thursday. This currency pair is weighed down by the prolonged decline of the US dollar and the low interest rates of the US Treasury bonds. The risk of intervention from Japan also adds to the weight on this currency pair.
However, on larger timeframes, this currency pair is still maintaining its upward trends well. According to Brian's perspective, this could be a short-term correction in price. The price level of 148.7 may be retested before the upward trend resumes.
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