#USDJPY @ 133.601 s 1-hour chart shows the price is on the front side of the bearish trendline.

…
This is a premium post.
[s2If !current_user_can(access_s2member_level4)]Please register for FREE REGISTER to read full post below containing analysis. In case of any error or you think you are not able to read the full post below, please email us at support#nehcap.com [lwa][/s2If] [s2If current_user_can(access_s2member_level1)]

• USD/JPYs 1-hour chart shows the price is on the front side of the bearish trendline.
• The 133.70s and resistance could see any correction back under pressure.
• A subsequent move to the 133.20s could be on the cards.

Risk sentiment has soured and combined with falling longer-term US Treasury yields has led to a bid in the Yen that has started to see a topping in USD/JPY´s rally. However, as the following 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.

The market is still front side, of the bullish trend as shown above.

However, we have seen a break in structure, BoS, 133.42. The head and shoulders leave the outlook bearish for the meanwhile while below the 78.6% Fibonacci near 134.25. Nevertheless, bears could be encouraged to reengage below there.

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.

[/s2If]
Nehcap Expert Advisor
The NEHCAP MT4 EA is high quality professional trading system geared to generate returns without using GRID or martingales. Each trade has strict risk per trade parameter. The pairs under management include EURUSD, GBPUSD, AUDCAD, AUDNZD,GBPAUD, EURAUD, EURCAD, CHFJPY and many more.
The system is trading live: LIVE ACCOUNT TRACKING
You can run it free. Apply for a free trial and track our account. Buy the system or use profit share mechanism to generate returns on your MT4.
Join Our Telegram Group