1-Hour Chart Analysis USDJPY
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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
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
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