USDJPY’s price action has shifted, raising questions about the future direction of the currency pair. This analysis examines the technical situation and explores potential scenarios.USDJPY Breaks Key Levels
Potential Scenarios
Overall SentimentThe technical outlook for USDJPY has turned bearish in the short term. The break below the trend line and support level suggests a potential downtrend. While a short-term bounce towards 156.30 or even 158.00 is possible, overcoming 159.40 seems unlikely in this scenario.More By This Author:USDCHF Charges Higher: Uptrend Confirmed Or Further Gains Ahead?USDCAD Stalls At Resistance: Downtrend To Resume Or Uptrend Signal? USDJPY: Uptrend On Hold Or Correction Incoming?
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