Get started
IkanBilisCapital

More downside for USDJPY but limited

Short
U.S. Dollar / Japanese Yen (FX:USDJPY)  
IkanBilisCapital  
FX:USDJPY   U.S. Dollar / Japanese Yen
Trend Analysis Chart Patterns Technical Indicators USDJPY usdjpyshort usdjpylong usdjpyanalysis usdjpydaily usdjpysell usdjpybuy usdjpyforecast
0
0
trendanalysis chartpattern indicator usdjpy usdjpyshort usdjpylong usdjpyanalysis usdjpydaily usdjpysell usdjpybuy usdjpyforecast
Price continues to trade in a range this week. We think that will continue into the rest of the year. The bearish engulfing candle is formed on the 4hr and more downside will come at the start of the week but the downside is capped by the 200MA.

BEAR CASE
Price dumps straight away from these levels. Our target is between 122 and 122.5

BULL CASE
Price consolidates upwards before the bear case is fulfilled. If this happens, it should be capped by the top of the channel at around 114.
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.