Hello dear friends!
USDJPY continues its downward trend today. As expected, the price is being pushed back as the selling side seems to dominate the market, with the US dollar facing significant disadvantages.
From the analysis chart: The price is currently at its lowest level in nearly a month. The support level at 144.7 has failed to help USDJPY recover. The current support level is at 141.60.
There are two possible scenarios for USDJPY:
Scenario one: The price may experience a slight recovery but will still decline as it meets resistance at 144.0.
Scenario two: The price breaks below the current support level and rapidly drops to 139.3, possibly even lower at 138.0.
USDJPY continues its downward trend today. As expected, the price is being pushed back as the selling side seems to dominate the market, with the US dollar facing significant disadvantages.
From the analysis chart: The price is currently at its lowest level in nearly a month. The support level at 144.7 has failed to help USDJPY recover. The current support level is at 141.60.
There are two possible scenarios for USDJPY:
Scenario one: The price may experience a slight recovery but will still decline as it meets resistance at 144.0.
Scenario two: The price breaks below the current support level and rapidly drops to 139.3, possibly even lower at 138.0.
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