According to the technical overview analysis from Europe, USDJPY has experienced a downward movement, showing increasing selling pressure following a breach of the lower Bollinger Bands. This movement often signifies a rise in market volatility and the beginning of a bearish trend dominating the market.
Additional signals come from the MACD indicator, which confirms the potential for further declines. The MACD line has crossed below the signal line, accompanied by an expanding negative histogram. This combination indicates that the selling momentum is strong, creating opportunities for USDJPY to continue moving lower.
Recommended
Recommended
Recommended
Recommended
This analysis aligns with the hourly chart observations. The 15-minute chart also suggests further decline as prices have broken out of a bullish channel, while the Stochastic indicator is in overbought territory, adding downward pressure. Should this scenario unfold, USDJPY has the potential to test the support level at 156.415.
Technical Reference: sell as long as it remains below 157.645
Potential Stop Loss 1: 157.420
Potential Stop Loss 2: 157.645
Potential Take Profit 1: 156.655
Potential Take Profit 2: 156.415
