USDJPY facing bearish pressure | 5 Apr 2021
Prices are facing bearish pressure from the descending trend line as well as horizontal swing high resistance which is in line with 100% fibonacci extension and 78.6% fibonacci retracement. Prices are likely to push down towards horizontal swing low support which is in lien with 100% fibonacci extension and 127.2% fibonacci extension. If prices break through descending trend line resistance and 1st resistance, price is likely to face resistance from 2nd resistance which is a horizontal swing high resistance which coincides with 78.6% fibonacci retracement. EMA is above prices, showing a bearish pressure for prices.
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