The USDJPY is encountering a likelihood of decline after breaking out of the bullish channel that had established an upward trend recently. The breach of the lower boundary of this bullish channel signifies that the previous strong upward momentum is beginning to wane. The 24-period Moving Average (MA) is also signaling a negative outlook, as the price now rests below it, indicating the dominance of sellers.
Furthermore, the MACD indicator is increasingly confirming this weakness, with the MACD line moving below the signal line, accompanied by a widening negative histogram, adding to the bearish pressure on this currency pair.
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The USDJPY is displaying increasingly clear signs of a downturn after breaking below the bearish trend on the 15-minute time frame. This breach of support indicates that selling pressure is intensifying, and the market is operating under a clear bearish influence. With the price currently positioned below the 24-period Moving Average (MA), the downward trend is further reinforced. Additionally, the MACD indicator moving below the zero level underscores that the downward momentum remains robust and may continue to test the support at 148.480.
Technical Reference: sell while below 150.200
Potential Stop Loss 1: 149.940
Potential Stop Loss 2: 150.200
Potential Take Profit 1: 148.795
Potential Take Profit 2: 148.480
