USD/JPY drops to 151.00, fresh breakout and correction
Dear friends, USDJPY continues to trade in a downward trend, reaching 151.40 at the end of this week's trading session. At the same time, it has pressed towards the support zone of the price channel several times, which reinforces the further bearish prospects of this pair. The main reason is that this Asset, faces pressure despite the strengthening US dollar amid a significantly improved US economic outlook.
The H1 setup shows, Price is approaching the 151.30 level and USDJPY is approaching the limit of the upper channel. A downside correction is expected when the pair breaks above this support, the target being the 151.05 and 150.50 support levels.
And you, how do you think USD/JPY will perform on the trading day of the week?
The H1 setup shows, Price is approaching the 151.30 level and USDJPY is approaching the limit of the upper channel. A downside correction is expected when the pair breaks above this support, the target being the 151.05 and 150.50 support levels.
And you, how do you think USD/JPY will perform on the trading day of the week?
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