USDJPY → Consolidating before the news....
Updated
USDJPY has been in consolidation for a long time, correlating with the dollar. Traders are waiting for key news and are not ready to act early. The currency pair is in the downward phase, which is a consequence of the strengthening of the Japanese yen on the background of the dollar's decline. The Central Bank of Japan actively considered the issue of raising rates, but postponed this step for later because of destabilized markets.
Today is an important report on inflation in the USA. So far, everything is going according to the Fed's plan. Markets are actively plotting the start of a Fed rate cut in September.
Technically, the bearish trend may continue, there is a huge pool of liquidity above 147.9, which may be liquidated before further decline.
Resistance levels: 147.9, 150.2, 150.86
Support levels: 146.29, 144.04
Technically and fundamentally we have prerequisites leading to a possible decline. We should wait for news to take some actions....
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Trade active
A resistance retest is formed Trade active
A retest of trend resistance is forming.
But, there is no impulse yet...
False breakdown will accelerate the realization of the idea...
Trade active
FalseBreakout!
Down ↓
Trade active
The price is closing below the key level of 147.9
Friday's closing session also indicates that the price will continue its decline.
Targets remain the same
Trade active
Trade active
A support retest is forming
USDJPY is preparing to reach the target
Trade active
The pressure from the sellers continues.Trade active
We continue to hold with the purpose of further decreaseTrade active
The currency pair is heading towards our target....Trade active
Continuing to hold. Price could go even lower... Trade closed: target reached
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NO‼️
You❗️CAN and ❗️SHOULD make money in trading!
Join me, I'll guide you to PROFITABLE TRADING💵!
🟢Free Telegram Channel:
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🔴Contact:
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🧿Web: rlinda.com
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