USD/JPY : Ready for more Fall?! (READ THE CAPTION)
Updated
Upon analyzing the USD/JPY chart in the daily time frame, we see that the pair is currently trading around the 157.060 level. Given the recent price action, I anticipate a significant correction in USD/JPY in the near future.
The first potential target for this decline is 156.25, so keep a close eye on this level! Stay tuned for updates as we track this movement together.
Let me know your thoughts in the comments below!
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Best Regards , Arman Shaban
The first potential target for this decline is 156.25, so keep a close eye on this level! Stay tuned for updates as we track this movement together.
Let me know your thoughts in the comments below!
Please support me with your likes and comments to motivate me to share more analysis with you and share your opinion about the possible trend of this chart with me !
Best Regards , Arman Shaban
Trade active
By analyzing the USD/JPY daily chart, we observe that yesterday, the price first breached below 157 and then moved above 158 to gather more liquidity. Currently, USD/JPY is trading around 157.690, and if the price stabilizes below the 158 level, we can anticipate the beginning of the next bearish wave. Other assumptions from the previous analysis remain valid.
Note
By analyzing the USD/JPY daily chart, we can see that, as expected, the price started to drop from the 158 level, correcting by over 130 pips to reach the 156.700 range. Given the current price momentum, I anticipate this decline to continue. As you know, the CPI data will be released today, and if it comes in lower than the forecast, we could see further weakness in the Dollar Index. This analysis will be updated as the market evolves.
Trade closed: target reached
By analyzing the USD/JPY daily chart, we can see that the price has finally hit the 156.250 target and continued its heavy decline following a prolonged bullish wave. So far, it has corrected by over 300 pips, reaching 155.10. This analysis remains valid, and I expect further declines in the medium term. I hope you’ve made the most of this analysis—stay tuned for more exciting and updated insights!
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