USD/JPY Price Analysis: Bears in the market, eye the 133.20s USDJPY Technical Analysis
illustrates, the price is still on the front side of the bullish trend on the longer-term outlook which leaves 132.00 key in this regard, Nevertheless, the price is meeting daily resistance and the bears are in the market. A break of the daily micro trendline support opens risks of a test of 132.00 and then the 130.60s. Below there, 129.60s and 127.20s will be eyed. However, we have seen a break in structure, BoS, 133.42.
A correction into the 50% mean reversion area near 133.90 could be met by supply for an onward bearish breakdown.On the 1-hour chart, the price is on the front side of the bearish trendline and the M-formation´s neckline aligns with the 133.70s and resistance. A subsequent move to the 133.20s could be on the cards if the bears stay committed over the coming sessions. Information on these pages contains forward-looking statements that involve risks and uncertainties.
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