FX.co ★ Daily Video Analysis: USDJPY facing bearish pressure, potential for a reversal!

Today we take a look at USDJPY. Combining advanced technical analysis methods such as Fibonacci confluence, correlation, market structure, oscillators and demand/supply zones, we identify high probability trading setups. USDJPY is facing bearish pressure as it holds below both Ichimoku cloud and descending trendline resistance. We could potentially see a pullback and subsequent reversal at our sell entry level, where price may fall to our take profit levels, in line with our horizontal swing low support levels.