USD/JPY Dominant Uptrend at Risk, Where to From Here?
USD/JPY put in a convincing break under rising support from the beginning of this year, opening the door to a lasting turn lower.
This also followed the emergence of a Bearish Engulfing candlestick, further compounding the argument to the downside.
Now, the 23.6% Fibonacci extension is sitting below as key support at 109.51. Breaking under would expose the 100-day Simple Moving Average which could reinstate the dominant focus to the upside.
Still, there could be room for even more prominent losses until the pair touches the 200-day SMA. At that point, the pair could open the door to resuming gains.
This also followed the emergence of a Bearish Engulfing candlestick, further compounding the argument to the downside.
Now, the 23.6% Fibonacci extension is sitting below as key support at 109.51. Breaking under would expose the 100-day Simple Moving Average which could reinstate the dominant focus to the upside.
Still, there could be room for even more prominent losses until the pair touches the 200-day SMA. At that point, the pair could open the door to resuming gains.
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Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.