USDJPY: Break of Channel, Constant Resistance
USDJPY started to turn bearish since last week as it broke below the bottom of a rising channel.
This week, the price has been seen constantly resisted at 108.7, causing multiple failed attempts to climb any higher.
Therefore, the structured can be confirmed as bearish and traders can look to sell around the current price.
USDJPY should present a stronger bearish movement once it broke below the demand zone at 108.2.
This week, the price has been seen constantly resisted at 108.7, causing multiple failed attempts to climb any higher.
Therefore, the structured can be confirmed as bearish and traders can look to sell around the current price.
USDJPY should present a stronger bearish movement once it broke below the demand zone at 108.2.
Order cancelled:
Very weak selling pressure. Buyers taking over soon. Get out.
