USDJPY selling zone
This analysis is fully technical analysis.
WE can see RSI bearish divergence forming on daily and weekly timeframe. Also, monthly, UJ is overbought.
Price has also reached top resistance of rising channel.
Therefore, 149-150 area could be possible selling area.
However, since current bullish trend has been driven by FED rate hike pace, there is also possible chance to rally more. But I believe that will be temporary for now.
WE can see RSI bearish divergence forming on daily and weekly timeframe. Also, monthly, UJ is overbought.
Price has also reached top resistance of rising channel.
Therefore, 149-150 area could be possible selling area.
However, since current bullish trend has been driven by FED rate hike pace, there is also possible chance to rally more. But I believe that will be temporary for now.
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