A potential short opportunity may arise for USDJPY at the 107.400 level.
Confluences here will be a rejection of the descending trendline, in line with the 100/200 EMA, and the previous support zone.
We may experience an initial drop to the 106.635 area ('TP1'), with a second target around the 106 psychological if momentum is strong.
Let's see how this plays out, and if confirmations are present we can look to enter a short position on this pair.
Confluences here will be a rejection of the descending trendline, in line with the 100/200 EMA, and the previous support zone.
We may experience an initial drop to the 106.635 area ('TP1'), with a second target around the 106 psychological if momentum is strong.
Let's see how this plays out, and if confirmations are present we can look to enter a short position on this pair.