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U.S. Dollar / Japanese Yen
Short

USDJPY → Weak dollar + intervention = bearish trend ↓

By RLinda
Updated
USDJPY breaks the 157.7 zone after a small consolidation. Powell's comments about more progressive deflation favor the market, the dollar is falling on this background and the end is not seen yet...

snapshot

Fundamentally, the weakening dollar and the ongoing interventions of the Central Bank of Japan have quite a strong impact on the exchange rate, but it is worth being careful. Previously, this market reaction was quickly bought out by traders who still have little faith in the continued strength of the JPY.
Technically, if the dollar continues to liquidate, such a strong fall could bring the currency pair down to global lows.
There is a strong liquidity zone ahead. Possible activation of orders in the risk zone, which may provoke a pullback before a further fall or a strong impulse, which without a pullback will knock out all market participants and the price will fly downward

Resistance levels: 157.18, 157.7
Support levels: 154.5, 151.86

At the moment everything is obvious, fundamental and technical nuances are telling about further decline. We should pay attention to the nearest zone of liquidity and price reaction.

Regards R. Linda!
Trade active
A rebound and correction from the specified zone is forming :)
The volume of liquidity from the first time does not allow the price to pass this support
Note
Correction
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Resistance retest
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snapshot
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A bounce from the specified zone brings the price to the specified resistance.
Beautiful realization)
Bears hold the resistance. At the same time, traders reduced the selling phase in the Japanese Yen, which in general may determine the medium-term prospects for us
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snapshot
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Continuing to hold
Trade closed: target reached
Ascending ChannelChart PatternsconsolidationDescending ChanneldistributionDXYFibonacci RetracementFundamental AnalysisTrend AnalysisTrend Line BreakZigzag
RLinda
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