A strong sell signal for USD/JPY. Can now drop to 125.00.
Technical Analysis of the U.S. Dollar / Japanese Yen (USD/JPY):
USD/JPY has triggered a strong technical sell signal after an established break below the 150.00 level.
After a small rebound towards the 150.00 level, USD/JPY has now fallen again to around 145.00 today.
USD/JPY has given a strong sell signal from a large rising wedge formation, and after this the break has now established below the 150.00 level.
A sell signal has also been triggered after a break below the 50-day moving average. The next important technical support level is now down towards the 200-day moving average, which today is around the 131.00 level.
Further down, there is significant technical support for USD/JPY around the 125.00 level, and down towards the lower trend line of the long-term uptrend that USD/JPY is moving within.
The overall technical picture for USD/JPY thus indicates a further sharp decline for USD/JPY, and then preferably down to between 125.00 - 132.00.
USD/JPY is currently trading around 145.00, and we are therefore talking about a possible significant further fall for USD/JPY in the time to come.
What will be needed to change this currently very negative technical picture for USD/JPY will be to see an established break above the 150.00 level and above the 50-day moving average.
USD/JPY has triggered a strong technical sell signal after an established break below the 150.00 level.
After a small rebound towards the 150.00 level, USD/JPY has now fallen again to around 145.00 today.
USD/JPY has given a strong sell signal from a large rising wedge formation, and after this the break has now established below the 150.00 level.
A sell signal has also been triggered after a break below the 50-day moving average. The next important technical support level is now down towards the 200-day moving average, which today is around the 131.00 level.
Further down, there is significant technical support for USD/JPY around the 125.00 level, and down towards the lower trend line of the long-term uptrend that USD/JPY is moving within.
The overall technical picture for USD/JPY thus indicates a further sharp decline for USD/JPY, and then preferably down to between 125.00 - 132.00.
USD/JPY is currently trading around 145.00, and we are therefore talking about a possible significant further fall for USD/JPY in the time to come.
What will be needed to change this currently very negative technical picture for USD/JPY will be to see an established break above the 150.00 level and above the 50-day moving average.
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