USD/JPY – 1H – SELLThe currency pair jumps from the bearish trendline down.
A continuation of the downward movement down to the next support level at 141.64200 is expected.
Caution: A possible reversal of the trend in the direction of the resistance line at 146.49500 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.
Correction of the major bearish trend halted around the Fibonacci 0.5-Level.Continuation of the current descending trend is expected. Current target is 142.787308 at the Fibonacci level 0.24-Level. Caution: A possible reversal of the trend in the direction of the support line at 146.49500 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 147.34300 |
| 2nd High | 147.20600 |
| Next High | 146.49500 |
| Current Price | 143.72900 |
| Next Low | 141.64200 |
| 2nd Low | 140.43300 |
| 3rd Low | 140.31600 |