**Monthly Chart**
USDJPY broke the high of August 1998 and moved higher in Oct 2022 which created a new swing high at around 150 level before drifting lower. This created a new strong level since then and the price was unable to break above it. Additionally, the price created a new MC in Nov 2023 and the price moved towards it and currently testing it.
**Weekly Chart**
The weekly chart shows a strong reaction from MC level creating a counter-trend movement to the downside. The next Level will be around 140.
**Daily Chart**
I would like to see one more bush to the upside before taking the trade lower. Will be watching this pair for good trade setup by next week. The short move is expected to sustain at least to test 140 level.
USDJPY broke the high of August 1998 and moved higher in Oct 2022 which created a new swing high at around 150 level before drifting lower. This created a new strong level since then and the price was unable to break above it. Additionally, the price created a new MC in Nov 2023 and the price moved towards it and currently testing it.
**Weekly Chart**
The weekly chart shows a strong reaction from MC level creating a counter-trend movement to the downside. The next Level will be around 140.
**Daily Chart**
I would like to see one more bush to the upside before taking the trade lower. Will be watching this pair for good trade setup by next week. The short move is expected to sustain at least to test 140 level.
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