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USDJPY facing massive bearish pressure, potential further drop!
USDJPY is experiencing massive bearish pressure from our descending resistance line and we are seeing major resistance at 106.41 (Fibonacci retracement, horizontal overlap resistance). A drop could occur from this level to push price further down to 105.29 support (Fibonacci extension, horizontal swing low support).
RSI (34) sees a descending resistance line add to our overall bearish sentiment on USDJPY.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
RSI (34) sees a descending resistance line add to our overall bearish sentiment on USDJPY.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results
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