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Forexbrokersingapore

USDJPY: Expect Retracement To Retest 5-Month Low USDJPY started the year by breaking out of a bearish trendline that lasted through November and December. We foresee a retracement from current levels after the pair failed to advance above previous resistance zones around 144.02 (R1) and 144.68 (R2). RSI on the hourly timeframe shows bearish divergence, suggesting the recent rally is losing steam and a retracement is probable. Sell Entry: 144.369 SL: 146.02 TP: 141.00 We do not eliminate the possibility of another rally to retest R2. In the event of a rejection from R2, it would form a double top pattern that will provide additional validation for a bearish trend reversal to our downside target.
Short
by phillip_nova

Select market data provided by ICE Data services. Select reference data provided by FactSet. Copyright © 2025 FactSet Research Systems Inc.© 2025 TradingView, Inc.

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