breaking news The USDJPY is working on its third day of decline.

USDJPY declines over the past 3 days

USDJPY is working on its 3rd day of decline since peaking and closing near Monday’s corrective highs. This top stalled nearly 50% of the decline from the last test of the 100-hour MA on Nov. 9.

Tuesday’s low held support near the broken 100-day MA (blue overlay line at 141.14). Yesterday’s fall was met with more momentum once price broke through both the 100-day MA and the rising 100-hour MA. Falling below the 200 hourly MA added selling momentum.

Today the pair fell below a swing between 138.74 and 139.09. Granted, the downside move was choppy around this swing zone, but at 138.407 the pair will now use this zone as near upper resistance if the sellers are to stay firmly in control. The November 15 low is the next target to hit and cross to the downside.

Looking at the daily chart below, the 38.2% decline from the 2022 low sits at 137.24. This will be another goal on more sales. Moving below would be another step in the bearish direction as the pair corrects from its October high (and 1990 high for the pair).

USDJPY turns to 38.2% of 2022 range


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