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The 1-hour chart reveals more granular details of the recent price action. The pair has formed a bearish engulfing candlestick pattern at the resistance zone around 157.00, which is a strong bearish signal. This pattern indicates a potential reversal to the downside. Furthermore, the pair is approaching a support level around 155.50, which could provide a short-term bounce. However, if this level is breached, the next target would be the 154.00 support level.
Daily Chart Analysis
The USD/JPY pair has been trading within an ascending channel for the past few months. Recently, the pair... Visit fourtrades website
4-Hour Chart Analysis
On the 4-hour chart, the USD/JPY pair has shown a clear break below a previous low, which adds to the bearish outlook seen on the daily chart. The price action is ... Visit fourtrades website for more insights
The 1-hour chart reveals more granular details of the recent price action. The pair has formed a bearish engulfing candlestick pattern at the resistance zone around 157.00, which is a strong bearish signal. This pattern indicates a potential reversal to the downside. Furthermore, the pair is approaching a support level around 155.50, which could provide a short-term bounce. However, if this level is breached, the next target would be the 154.00 support level.
Daily Chart Analysis
The USD/JPY pair has been trading within an ascending channel for the past few months. Recently, the pair... Visit fourtrades website
Pine Script®
Link in the bio
4-Hour Chart Analysis
On the 4-hour chart, the USD/JPY pair has shown a clear break below a previous low, which adds to the bearish outlook seen on the daily chart. The price action is ... Visit fourtrades website for more insights
Pine Script®
Link in the bio
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Disclaimer
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.