The USD/JPY pair is located at 148.43 at the time of writing. As you can see on the H1 chart, the rate dropped below the uptrend line, signaling that the upwards movement could be over and that sellers could take the lead.
In the short term, it has retested the broken uptrend line confirming its breakdown. Now, it is almost to reach the 148.30 immediate low which stands as a downside obstacle.
USD/JPY Trading Conclusion!
Dropping and stabilizing below 148.30 may announce more declines. This scenario is seen as a new selling opportunity.
The material has been provided by InstaForex Company – www.instaforex.com
USD/JPY 148.30 Key Downside Obstacle!
The USD/JPY pair is located at 148.43 at the time of writing. As you can see on the H1 chart, the rate dropped below the uptrend line, signaling that the upwards movement could be over and that sellers could take the lead.
In the short term, it has retested the broken uptrend line confirming its breakdown. Now, it is almost to reach the 148.30 immediate low which stands as a downside obstacle.
USD/JPY Trading Conclusion!
Dropping and stabilizing below 148.30 may announce more declines. This scenario is seen as a new selling opportunity.
The material has been provided by InstaForex Company – www.instaforex.com
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