USDJPY: Continuing to extend the downtrend
Updated
Hello wonderful friends! USD JPY continues to struggle in finding momentum for recovery, trading around the 142.00 range.
As a result, the price once again surpasses the support level of 144.0. The technical outlook still favors a downward trend as USDJPY has not managed to break free from the bearish trend, and the EMA 34, 89 signals are still conflicting. There is a possibility of a correction in the trend as attempts to increase the price will be challenged at the 142.50 level and the previous support level of 144.45.
The downward momentum will remain strong as long as USDJPY operates below the resistance of 146.0.
As a result, the price once again surpasses the support level of 144.0. The technical outlook still favors a downward trend as USDJPY has not managed to break free from the bearish trend, and the EMA 34, 89 signals are still conflicting. There is a possibility of a correction in the trend as attempts to increase the price will be challenged at the 142.50 level and the previous support level of 144.45.
The downward momentum will remain strong as long as USDJPY operates below the resistance of 146.0.
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