Based on technical analysis, it seems as if it is gonna be a tough year for the USD relative to JPY, from the chat we can see that USDJPY is likely to touch the bottom line of the channel around 2024.
If the price break below 50% Fibonacci level, expect the price to reach 78.6% Fibonacci retracement level. based on the candles we can see that the bears are coming with momentum that can drive price down to about 113.550 which is about 78.6% Fibonacci retracement level and likely to hit this level . This year we can expect that most of the USDJPY signals will be sell signals.
HAPPY TRADING!!
If the price break below 50% Fibonacci level, expect the price to reach 78.6% Fibonacci retracement level. based on the candles we can see that the bears are coming with momentum that can drive price down to about 113.550 which is about 78.6% Fibonacci retracement level and likely to hit this level . This year we can expect that most of the USDJPY signals will be sell signals.
HAPPY TRADING!!