FX.co ★ USD/JPY

USDJPY Technical Analysis: The USD/JPY pair's current price movement is examined in this article. For the last eight days, the pair has been declining, and this pattern is probably going to continue this week. A possible decline is indicated by the stochastic oscillator's value falling below the 20% threshold. For the last 24 days, the pair has been below its 50-day moving average, which strengthens the pessimistic forecast. The main Average Directional Index (ADX) line and the red line both clearly imply a continuing decrease approaching the robust support level of 159.229. There are currently no indications of another bullish situation. Buyers drove the USD/JPY pair into the liquidity accumulation zone between 164.069 and 164.179 during the weekend. Nevertheless, it was challenging to break through this zone, and following a brief test, there was a big decline that essentially negated Friday's buying efforts.

Strong sell positions may be entering the market, based on the increased trading activity during this decline. As the new trading week gets underway, this downward trend is probably going to continue. Selling is still my major priority. We anticipate that the USD/JPY pair will soon drop to the previous low of 162.479 after breaking below the 163.179 support level. The pair dropped to a near-critical level of 163.149 last Friday, where the downturn came to an end. The price could drop rapidly to about 162.589 if the market begins at this level and the price increases to 163.889. The price may climb to test the 165.669 level if it is unable to stay below 162.589. The slide might continue if it is unable to surpass this threshold.