USDJPY is trading around 139.52. Our 140 target has been reached and according to the Ichimoku cloud indicator, Daily trend is now neutral as price has entered the Kumo. Short-term trend is bearish and Daily trend is also vulnerable to changing to bearish too. The decline has paused right on the lower cloud boundary. The RSI has reached oversold levels and is bouncing. Price is vulnerable to more downside as long as price is below both the tenkan-sen (red line indicator) and the kijun-sen (yellow line indicator). Both are key resistance points, now at 143 and 144.85. At 138-138.20 support is very crucial. I believe it is more probable for USDJPY to produce a bounce than continue the decline. That is why bears need to be very cautious.
