USD/JPY likely to break supports at 118.854 - drifting downwards

FX:USDJPY   U.S. Dollar / Japanese Yen
181 0 2
The pair has broken a strong support at 118.854 but the break below is keenly watched on closing basis, as it would build new bearish environment.

On a long-term perspective, the non-directional trend is now slightly sensing weakness that lasted for almost 1 year (that has remained in the range of 116.082 - 125.856).

While USD/JPY's uptrend is contracted into narrow range, other oscillating indicators shown a clear convergence to the previous puzzling swings in sideway trend; for now bearish sensation is piling up although interim upswings cannot be disregarded.

Most significantly, weekly prices have slipped below 21DMA to signify the bearish trend to prevail further.

Massive volumes build up on every price decline (see grey shaded areas).

Most likely and alternative scenarios: Strong resistance is seen at 120.500 but more interest is observed to remain below support at 118.854.
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out