The USDJPY currency pair is currently experiencing increasing selling pressure on the 1-hour timeframe. The downturn in the Moving Average (MA), along with the MACD indicator entering negative territory, suggests that bearish momentum is prevailing. This scenario implies that the selling pressure may persist, providing an opportunity for prices to decline further in the short term.
Additionally, the price has struggled to break through key resistance levels and has faced rejections at every upward attempt. As long as the selling pressure continues and technical indicators support this trend, there is a strong likelihood that USDJPY will continue its descent towards subsequent support levels.
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Within a strong bearish trend, the USDJPY pair is showing signs of further decline on the 15-minute timeframe, evidenced by the prices moving within a bearish channel and the Moving Average (MA) continuously declining. The combination of these factors indicates consistent selling pressure, creating opportunities for the currency pair to continue its downward trajectory. While prices remain below the MA and within the channel limits, bearish momentum is anticipated to persist, testing the support at 141,600.
Technical Recommendations: sell while below 144,180
Potential Stop Loss 1: 143,840
Potential Stop Loss 2: 144,185
Potential Take Profit 1: 141,955
Potential Take Profit 2: 141,600
